Posted in Category: Overseas Landlords / August 31 2017
HMRC, the Council of Mortgage Lenders and the Building Societies Association initiated the Mortgage Verification Scheme on 1 September 2011.
If the mortgage application information does not match HMRC self-employment or PAYE data, tax enquiries can follow, especially if the mortgage application contains a higher income figure than that declared on the tax return or reported by the applicant’s employer.
Since its inception, the number of referrals has increased year on year and broke through the 10,000 barrier in 2016/17.
Tax year Number of referrals