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Clydesdale Bank contractor lending criteria updates

4th June 2021

We’ve made some updates to Clydesdale Bank’s lending criteria for contractors, following recent IR35 rule changes

Clydesdale Bank accept contracts that fall within IR35 rules. Clydesdale Bank also accept contract income received via a payroll services (umbrella) company.

When a contractor is paid via an umbrella company, or falls inside IR35 and receives payslips, we need to see the last two months’ payslips, in addition to standard documentation. Any statutory employer costs (including employer NI contributions and Apprenticeship Levy) and any payroll service costs are deducted from gross pay before we multiply gross pay by 46 weeks.

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