Tax clearance for additional income

J

JayJay

Registered User
Messages
3
Hi,
Do all banks require evidence of tax clearance for additional income before giving out a mortgage? I have a side earner bringing in a small amount of extra cash. It shows up on my bank statement and the 2 banks I have tried both looked for tax clearance.
Is there any way around this?
 
Did they ask you specifically where that money came from or did you volunteer it ? Why not just say it was a lodgement from selling old attic items.
 
Selling old attic items though won't be considered a regular extra income, I presume applicant wants the income considered from a borrowing point of view. If not then that's fine but if you want it counted as income then yes I would imagine they would to see that it was above board. Non declared income in general won't be taken into account for a mortgage.
 
It's not that I want it considered in terms of ability to pay it back, I don't.
But they see transactions on my account and want me to prove that I have paid tax on the profit.
I didn't bring their attention to it, the underwriter spotted it on my bank statement.
 
JayJay said:
It's not that I want it considered in terms of ability to pay it back, I don't.
But they see transactions on my account and want me to prove that I have paid tax on the profit.
I didn't bring their attention to it, the underwriter spotted it on my bank statement.
Click to expand...

Pay whatever tax is due, and get tax clearance?!
 
You must log in or register to reply here.
Back
Top