For those who work for themselves, there are several ways to demonstrate your earnings:
- Tax Returns: Use your most recent tax return forms, such as HMRC's Self Assessment, to show self-employed income.
- Bank Statements: Present bank statements that illustrate client payments over the past six to twelve months as an income record.
- Profit and Loss Statements: Detailed profit and loss accounts, possibly created with accounting software, can establish income levels for self-employed professionals.
- Invoices and Contracts: Keep a well-organised file of your invoices and contracts as evidence of earnings from your self-employment.
- Statements from Clients: Solicit letters from your clients that confirm payments or repeat work, which can enhance your income verification.
Tip
Ensuring all your financial documents are in good order is crucial when proving income as a self-employed individual. The required documents can vary between institutions, and your particular situation will determine the best method for you.