13 February 2017
Good News from Clydesdale as they change the way they assess income for self employed customers.
• They now calculate income for self employed applicants by assessing their income based on the last 2 years financial data, instead of 3
• The requirement for limited companies is to provide 2 years accounts (showing 3 years figures)
• The requirement for non-limited businesses (sole traders or non-limited partnerships) is to provide 2 years accounts (showing 3 years figures) or the latest 3 years HMRC tax calculations with corresponding tax year overviews
• They will now use a 2 year average income unless the most recent year is lower, in which case the most recent income figure will be used
• Documents no longer need to be certified by the broker.
For more details check out their website here.