Mortgage when Wife does accounts

Sarah1916 · 16-05-2017 04:40PM #1

My Husband is a self employed tradesman.
I am a chartered accountant and so I do his books.

My question is - if we want to go for a mortgage in a number of years will the banks accept certified accounts if the accountant who certified the accounts is the persons wife?

I might add that I work in a commercial environment so do not have my own accounting practise. I am not sure if that would be more of a reason not to accept me as the accountant.

Henry Ford III · 16-05-2017 05:22PM

Can't see why not tbh. If the Revenue accept your husband's income based on the accounts you've done then I can't see a lender having an issue.

p.s. Do you charge him a fee?

Trish56 · 17-05-2017 06:52PM

Lender will look for tax assessment forms (P21) plus accounts as evidence of income so should not be a problem.

Jim2007 · 18-05-2017 11:39PM

Sarah1916 wrote: »

My Husband is a self employed tradesman.
I am a chartered accountant and so I do his books.

My question is - if we want to go for a mortgage in a number of years will the banks accept certified accounts if the accountant who certified the accounts is the persons wife?

I might add that I work in a commercial environment so do not have my own accounting practise. I am not sure if that would be more of a reason not to accept me as the accountant.

I suggest that you refer to the Institute's handbook on this matter!

johnnyskeleton · 18-05-2017 11:44PM

Henry Ford III wrote: »

Can't see why not tbh. If the Revenue accept your husband's income based on the accounts you've done then I can't see a lender having an issue.

p.s. Do you charge him a fee?

The banks wont accept revenue returns though. I think their view is that if they are misled there is a professional with an insurancw policy to sue. Pretty silly though as the accountant only i puts what they are told.

So OP, I would imagine that they would want accounts done up by a firm that is insured to cover it!

Trish56 · 22-05-2017 01:30PM

All the lenders most definitely look for Accounts plus Notice of Assessment from Revenue and Form 11 submitted by your Accountant to Revenue.

Henry Ford III · 22-05-2017 03:28PM

Trish56 wrote: »

Lender will look for tax assessment forms (P21) plus accounts as evidence of income so should not be a problem.

Not being pedantic but the self employed don't get these - A P21 is a PAYE Balancing statement.

Self employed will get a revised notice of assessment however.

Trish56 · 23-05-2017 10:59AM

I think I covered that in post no. 6.

Henry Ford III wrote: »

Not being pedantic but the self employed don't get these - A P21 is a PAYE Balancing statement.

Self employed will get a revised notice of assessment however.

Mortgage when Wife does accounts

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