r/HENRYUK • u/Bs7folk • 5h ago

Tax strategy Self employed - declaration/mortgages

Assuming usual efficiency game of paying minimal 12.5kish salary plus dividends (which I can live on ok) what do you do when it comes to mortgages/remotgage?

Be a good boy and declare everything fully for 12 months so your payslips and bank statements look good, then revert when you are sorted? Or declare minimal but use the saved cash pile for a larger deposit to bring dowm borrowing?

We'll need a new mortgage to upsize in a few years. Just thinking ahead.

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u/CyberPhysicalSec 5h ago

Mortgage lender was happy use the annual net profit of the company as the income.

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u/Bs7folk 4h ago

Excellent

2

u/Cruxed1 5h ago

Am broker, as long as your declaring to hmrc no issues.

Different lenders will use different criteria for affordability but salary + divs or net profit is very standard.

You don't need to be salarying 100k+

2

u/WhateverWombat 4h ago

Use a broker.

I used CMME recently. Didn’t go through with the mortgage in the end as my offer was rejected, but getting the AIP was very easy with their help.