Mortgage when Wife does accounts

Sarah1916

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

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

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

Jim2007

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

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

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

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

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.