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FOR INTERMEDIARY AND PROFESSIONAL ADVISORS ONLY. NOT FOR CONSUMER USE.

Coventry intermediaries logo0800 121 7788 Monday to Friday 9am - 6pm. Closed on bank holidays.

For directors with more than 20% shares in the company, we need an accountant's certificate covering the most recent two-year accounting period. We'll write to the accountant directly, requesting the information below.

Remember:

  • The latest financial year on documentation should be no older than 12 months
  • It can show a latest financial year up to 15 months old at the date of application, but if so, it will need to be supported with 3 months’ personal bank statements.

To speed up the process, you might want to get in touch with your client’s accountant and ask them to have the information ready to send back to us.

Accountant's certificate for directors with >20% shares

Figures must be final, not draft or projected.

We require the following information:

  • Company name
  • Nature of business
  • Date business started
  • Year ending*
  • Turnover
  • Net profit and the Applicant’s gross share of the net profit**
  • Fair value gains or losses
  • Salary defined as the applicant’s gross salary excluding any benefit in kind (e.g. car benefit) or dividends
  • Spouse’s salary

We will also ask the following questions:

  • If profits/drawings/salary/dividends are not level or rising an explanation will need to be provided, especially where drawings/salary/dividends exceed net profit
  • In your opinion, is the amount of drawings/salary supported by the on-going performance of the business?
  • Please confirm that cash flow projections are sufficient to support the forecast growth of the business.
  • In your opinion, are the level of drawings/dividends sustainable to allow the business to grow and continue to be profitable?
  • Are there any significant exceptional one-off items of income or expenditure, not expected to recur, reported within the net profit of the periods reported? Details of any such items will need to be provided
  • If applicable, please provide a breakdown or the source of the applicant’s additional income and specify any other factors which may affect the future profitability

*Where the accountant’s certificate shows the latest financial year over 12 months and up to 15 months old at the date of application, 3 months personal bank statements showing income received will be required to support the application.

**Net profit figures must be stated prior to dividends, after taking into account the applicant’s salary and after the deduction of corporation tax.