Reviewed by
Billy Lang, Director
FCA Registration No: 835008
Why standard lenders struggle with self-employed applications
Most leasing forms are written for PAYE employees. They ask for payslips and a P60 and reject anyone who can't produce them. That cuts out millions of legitimate self-employed applicants — sole traders, contractors, freelancers, partners, agency workers — whose income is real but doesn't fit the form.
We start with a soft credit search and look at evidence of income that actually matches how the self-employed get paid.
Who this is for
What we accept as evidence of income
SA302
Your HMRC tax calculation. The cleanest single document for sole traders and PSC directors.
Bank statements
Three to six months, business or personal. We look at consistency, not just the headline number.
Signed contracts
Especially useful for newer self-employed applicants where SA302s do not yet exist.
Recent invoices
A handful of recent paid invoices showing ongoing trading.
Accountant's letter
Optional, but useful if your accountant can summarise expected annual income.
Filed accounts
For limited-company directors with a year or more of trading.
We will only ask for what your specific application needs — not everything on this list as standard.
Two products to choose between
What matters for the self-employed
The factors that genuinely move the decision
- Affordability — net income against committed outgoings
- Consistency of trading — how steady the income looks across the months we sample
- Sector and customer base — diversified clients vs single-customer reliance
- Length of self-employment — under or over 12 months changes which evidence we lead with
- Tax position — VAT registration, IR35 status where relevant
- Personal credit picture
All decisions are subject to status. We do not offer guaranteed approval.
The process, end to end
- 1
Quote & soft check
Online or by phone. No footprint, no impact on score.
- 2
We ask for the right evidence
Tailored to your situation — not a blanket document list.
- 3
Honest indication
Yes, no, or yes-but. Plain answers either way.
- 4
Vehicle & agreement
Choose vehicle, term, mileage, initial rental.
- 5
Hard search & sign
Only at full agreement, with your knowledge.
A real example
Placeholder — awaiting real case study
Anonymised approval — self-employed
Short paragraph describing one real self-employed customer (no name) — their trade or profession, what evidence we accepted, and the vehicle / term they ended up with. Client to supply.
Related
Frequently asked questions
I don't have payslips — what proof of income do you accept?
SA302s (your HMRC tax calculation), three to six months of bank statements, signed contracts, recent invoices, and where relevant your accountant's letter or accounts. We will tell you exactly what we need for your specific situation, rather than asking for everything as standard.
Can I lease if I've been self-employed less than 12 months?
Yes. We have a dedicated path for under-12-month self-employed applicants. See the page on self-employed under 12 months for what we accept in lieu of a full year of accounts.
Should I lease through my business or personally?
[PLACEHOLDER — to be confirmed by the client's tax adviser] It depends on the structure (sole trader vs limited company), the use mix (business vs personal), and your VAT position. Speak to your accountant for advice specific to your circumstances. We can structure the agreement either way.
Can I claim VAT back on my lease?
[PLACEHOLDER — to be confirmed by the client's tax adviser] VAT-registered businesses can typically recover a proportion of the VAT on commercial vehicle leases, depending on use. Speak to your accountant for the specifics.
How does a soft credit check work?
A soft search has no impact on your credit score and is not visible to other lenders. We use it at the eligibility and quote stage. A hard search only happens once you decide to proceed and we are putting the agreement in place.
What is the minimum deposit?
Initial rentals are typically structured as either 1.5 months or 3 months. Newer self-employed applicants and those with imperfect credit usually sit on the 3-month structure. The total cost over the lease is the same either way — only the cash up-front differs.
All applications are subject to status.
We do not offer guaranteed approval. Tax content on this page is general signposting and is not advice — speak to your accountant for your specific situation. First Flexi Lease is a trading name of Oak First Investments Ltd. FCA Registration No: 835008. Authorised and regulated by the Financial Conduct Authority.
Ready to get a quote built around your income?
Soft check, honest answer, no PAYE-only assumptions.
