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Income Assessment Changes for Self Employed from Clydesdale.

13 February 2017

Clydesdale

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.


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