A Tax Year Overview (TYO) is a summary document from HMRC that shows the total tax charged for a specific tax year, any payments you have made, and whether there is a balance due or a refund owed. It acts as HMRC's confirmation that the figures on your self-assessment return have been received and processed.
Mortgage lenders ask for Tax Year Overviews alongside SA302s because the two documents serve different purposes. The SA302 shows your income breakdown, while the Tax Year Overview confirms that the return has been filed, that HMRC has accepted the figures, and that your tax has been paid. Together, they provide a complete picture of your self-employed income.
You can obtain your Tax Year Overview from your HMRC online account by navigating to "Self Assessment" and selecting "View your Tax Year Overview". It is available for any year for which you have filed a return. If you do not have online access, you can request a printed copy by contacting HMRC.
Lenders pay particular attention to whether the Tax Year Overview shows any outstanding tax due. Unpaid tax liabilities can affect your affordability because the lender will deduct the owed amount from their calculation of your available income.
Nina's mortgage broker asks for her SA302 and Tax Year Overview for 2023/24 and 2024/25. Her Tax Year Overview for 2024/25 shows a total tax charge of £9,800, with £9,800 paid — confirming she is up to date. The lender is satisfied that her declared income of £46,000 is accurate and that she has no outstanding tax liabilities that would affect her ability to pay the mortgage.
Key Points
- A Tax Year Overview confirms the tax due for a year and whether it has been paid
- It is typically required alongside the SA302 for mortgage applications
- Available from your HMRC online account or by postal request
- Outstanding tax shown on the overview may reduce the amount a lender will offer
- Both documents together give lenders confidence in your declared self-employed income