Referencing self employed

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    Referencing self employed

    Hi. I have someone interested in my property. They are however self employed and as such I am expecting this to be an issue for referencing income etc. I am thinking that perhaps I should ask to see bank statements, accounts. Anything else?
    Also if you have a guarantor for the property can that guarantor be for both individuals that want to rent or would I need a separate guarantor per person?

    Many thanks

    #2
    Tax returns over the past 5 years. If they lied to the taxman they will lie to you.

    Under most circumstances (excludes some types of students etc) if you feel you need a guarantor, you should not take the tenant (state of play in 2019). Guarantor agreements can only achieve so much, and for a limited time.

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      #3
      HMRC used to provide a handy form (called an SA302) which gave a high level summary of income reported and tax paid.
      What they do now is give an online summary that shows what tax was actually paid (but not the income reported), so you need to see the person's tax computation - which should lead to the HMRC confirmed figure.
      When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
      Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).

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