How do income documents differ for self employed?
If you have applied for a loan as an employee, you may recall supplying 2 payslips and possibly a payment summary.
For self employed borrowers the traditional requirement is 2 years full tax returns, notices of assessment and financial statements. This in itself is quite onerous and also creates issues.
You may get behind with your paperwork and not have lodged your current tax returns
They may reflect historical business trading that can be 18 to 36 months prior
You may not have been self employed long enough to have two full years trading reflected in the returns