For many borrowers, proving income for a mortgage is straightforward: payslips, P60s, and bank statements are enough. For athletes and entertainers, it is rarely that simple. Careers are structured differently, income streams flow from multiple sources, and the “official record” of what someone earns often sits across a web of HMRC filings, accountant-prepared reports, and management statements produced by agents.

In 2025, lenders are under more pressure than ever to scrutinise that paperwork carefully. Anti-money-laundering rules, tougher FCA oversight, and an increased focus on affordability mean that underwriters want not just numbers but evidence that those numbers are reliable. For athletes and entertainers, this means one thing above all: the paper trail must be impeccable.

At Willow Private Finance, we see time and again that deals succeed or fail not on the headline income, but on the quality of the documentation behind it. This blog explores what lenders expect from HMRC records, accountant statements, and agent letters and, how clients can prepare to avoid unnecessary delays.

Why HMRC filings matter

For UK-based clients, HMRC filings are often the cornerstone of underwriting. They provide lenders with a verified record of taxable income, which carries far more weight than a self-declared contract or invoice.

For athletes, this typically means PAYE income from clubs, supplemented by self-assessment returns covering sponsorship or endorsement income. For entertainers, HMRC records may include royalties, performance fees, and advances.

The challenge is timing. Tax filings are retrospective: they show what was earned last year, not what is being earned now. For a footballer whose new contract has just doubled his salary, or a musician with a fresh global deal, HMRC records can understate reality. Conversely, for someone in declining earnings, HMRC may overstate affordability if lenders do not examine current contracts.

This creates a paradox. HMRC evidence is trusted, but it is rarely enough on its own.

The accountant’s role

This is where accountants step in. A skilled accountant can bridge the gap between historic tax filings and current reality. Their letters to lenders often confirm:

• Current contracts in place and their terms.
• Expected income for the next 12–24 months.
• Dividend flows or retained profits available for distribution.
• Clarification of foreign income and how it is treated for tax.

Without this, lenders may discount significant income streams. As we discussed in Image Rights, Sponsorship & Side Companies: Proving Income the Right Way, company dividends and commercial contracts only carry weight when validated by professional advisers.

Accountant letters are not optional extras; they are central to securing approvals for complex borrowers.

The agent’s role

Agents are often the first to negotiate contracts — whether that’s a football transfer, a film deal, or a sponsorship agreement. For mortgage purposes, their role is more limited, but still valuable. Lenders sometimes request agent confirmation of contracts or management statements showing anticipated income flows.

The key here is credibility. Lenders will not rely on an agent’s word alone. But when an agent’s statement aligns with contracts and accountant letters, it adds persuasive weight. It shows the entire advisory team is singing from the same hymn sheet.

For entertainers, this can be especially important where touring income is projected. An agent’s forward-looking statement, combined with accountant sign-off, reassures lenders that anticipated revenues are realistic rather than optimistic.

A practical illustration

Take the example of a young tennis player who has just broken into the top 30 worldwide. Her 2023 HMRC filing shows £350,000 in income. But her new 2025 sponsorship deals, negotiated by her agent, bring in £1.5 million annually. On paper, HMRC records alone would not support the mortgage she seeks.

By coordinating accountant letters (confirming the new contracts, income projections, and distributable company reserves) with agent confirmation (validating the sponsorship agreements), the application is transformed. Lenders now see not just historic tax filings but a credible, validated paper trail that justifies higher borrowing.

The difference between success and failure was not the income itself — it was the way it was documented.

Why lenders insist on consistency

One of the fastest ways to derail an application is inconsistency between documents. If HMRC returns show one number, the accountant’s letter shows another, and the agent’s statement inflates yet another, underwriters lose confidence.

Inconsistent paperwork suggests disorganisation at best, and misrepresentation at worst. That’s why alignment is crucial. At Willow, part of our role is to reconcile these documents before they reach lenders. We work with clients’ accountants and agents to ensure the story is consistent: HMRC filings, accountant confirmations, and agent statements all line up.

International clients and HMRC

For overseas athletes and entertainers buying in the UK, HMRC filings may not exist yet. Instead, lenders rely on foreign tax returns, accountant-prepared translations, and evidence of residency or visa status. As we explained in Foreign Currency & Multi-Jurisdiction Income: Getting UK Approval, this requires careful handling, as lenders apply conservative treatments to foreign income.

Where HMRC does come into play is for clients who intend to establish UK residency. Early engagement with accountants is vital, ensuring tax affairs are structured properly before approaching lenders. A poorly timed or incomplete HMRC record can create avoidable barriers.

Common pitfalls to avoid

We see several recurring mistakes when athletes and entertainers apply for mortgages:

• Submitting outdated HMRC returns without updates from accountants.
• Relying on agent statements without professional validation.
• Failing to reconcile different numbers across documents.
• Waiting until contracts are signed before involving accountants.

All of these create friction with lenders. The antidote is early preparation. The best outcomes occur when accountants, agents, and clients work together before an application is submitted.

How Willow prepares clients’ paper trails

At Willow Private Finance, we do not simply pass on documents to lenders. We curate them. That means working with accountants to draft letters that directly answer underwriter concerns, liaising with agents to ensure management statements are realistic, and checking HMRC filings for consistency.

We act as translators between the client’s advisory team and the lender, turning a complex web of documents into a coherent narrative. The result is smoother underwriting, faster approvals, and stronger terms.

Conclusion

For athletes and entertainers, income is rarely straightforward. HMRC filings show history, accountants explain the present, and agents predict the future. Lenders need all three, but only when aligned.

In 2025, the quality of the paper trail often matters more than the amount of income itself. A client with £5 million of poorly documented revenue may struggle, while one with £2 million presented cleanly through HMRC, accountants, and agents can succeed.

At Willow, we specialise in making the paper trail lender-ready, ensuring that high-profile clients secure property finance without unnecessary friction.

📞 Need help getting your paperwork lender-ready?

Talk to Willow. We’ll coordinate your HMRC filings, accountant letters, and agent statements to present a watertight case to underwriters.