Salary & Dividends

[Sunny33]

Hi,
I was working full time for the last two years, started contracting through my company from March 11. Currently paying £650 p.m in salary and rest (35K) in dividends upto April 12.

My question is can I take a high salary (say 50K p.a.) for couple of months and then revert back to normal £750 again? I don't mind paying extra NI and incometax for those couple of months. This is because Banks are insisting for 2 years audited statements for self employees which I don't have. Only way is to show the eligible salary until the mortgage is processed and then revert back. Is this approach doable or will it draw undue attention of HMRC?
From my limited knowledge I don't see a problem as I am paying more in tax and NI but not sure. Would be thankful for your thoughts and suggestions.

[northernladuk]

Don't have to do this.

Point the bank at your accountant. He will prove your earnings both PAYE and divis. Most banks have a process set up. Mention your accountant and they will deal with it. Simples.

It also doesn't matter about 2 years. The last two times I was asked for this they were happy to take the last 2 years whatever. First time was 18 months permie and 6 months from accountant, second time was almost in reverse, 18 months accounts and 6 of permie.

[Notascooby]

Find a specialist contractor mortgage broker.

I used contractor financials for a buy-to-let and was less than 1 year in the game. They worked off current rate.

Piece of p1ss.

[Support Monkey]

Or just go through contractor Money who will base it on your current rate