Lenders will want to see your last 2 or 3 years (but can be done on one-year accounts) SA302 or accountants tax calculation AND your Tax Year Overviews. They will then look at the net profit figure. This is the figure that was liable to income tax, including any tax-free allowance.

Remember that this figure is after your expenses have been accounted for.

Lenders will generally want to assess the full accounts for the business and may also ask for the SA302/Tax Calcs and TYO’s mentioned under the sole trader info. The require this to make sure that the business is profitable and sustainable.

Again, this will normally be for a 2 or 3 year period but it can be done with one years accounts.

If you are a partner in a large LLP – often lawyers or large accountancy practices - it is not practical to obtain the company accounts. In this instance, some lenders will accept a letter from a managing partner or finance director who can confirm the remuneration. If you have recently joined a large LLP as a partner you may be in luck as there are lenders who will use the above method to verify income based on previous profits and the share you would have received.