Know exactly where
your business stands
Generate a professional Profit & Loss statement from your invoices and expenses automatically. Built for UK sole traders and small businesses.
What is a P&L?
Your business finances, summarised in one document
A Profit & Loss statement, also called a P&L or income statement, shows your total income, total expenses, and the resulting profit or loss over a given period.
For UK sole traders and small business owners, your P&L is one of the most important documents you'll need, whether you're preparing for self assessment, sharing figures with an accountant, applying for a business loan, or simply understanding whether your business is profitable.
Built For Small Business generates your P&L automatically from the invoices and expenses you've already recorded, no manual calculation, no spreadsheet, no guesswork.
Example P&L Summary
Income
Expenses
Result
What's included
Everything your P&L needs,
generated automatically
Built from your real data
Your P&L pulls directly from invoices and expenses you've already recorded. No double entry, no manual totalling — it updates as your records update.
UK tax year aligned
Reports are automatically aligned to the UK tax year, April to March, so the figures match exactly what HMRC expects at self assessment time.
Accountant-ready PDF export
Download a clean, professional PDF to share with your accountant or keep for your records. No formatting required — it's ready to send.
Expense category breakdown
Expenses are broken down by category, materials, travel, software, professional services, so you and your accountant can see exactly where money went.
Additional income tracking
Record income beyond invoices — grants, interest, other revenue, and it flows into your P&L automatically alongside your invoice income.
Tax estimate included
See an estimated tax figure based on your net profit so you know what to set aside before January's self assessment deadline arrives.
Who it's for
Built for how UK small
businesses actually work
Sole Traders & Freelancers
- Preparing for self assessment and need to know your profit figure
- Sharing financials with a mortgage lender or bank
- Wanting to understand whether your business is actually profitable
- Checking how much to set aside for your January tax bill
Small Business Owners
- Working with an accountant and need clean, organised records to share
- Applying for a business loan and need to show financial performance
- Managing staff and expenses across a growing operation
- Planning ahead and need a clear picture of business performance by period
How it works
Your P&L in three steps
Record your invoices and expenses
Use BFSB to send invoices and log expenses throughout the year. Everything is stored and categorised automatically.
Open your P&L report
Navigate to the P&L section in your dashboard. Select the tax year — the report generates instantly from your existing data.
Download and share
Export a clean PDF to share with your accountant, keep for your records, or use when applying for a mortgage or business loan.
P&L reports are part of the
Business Plan
Create a free account and use invoicing, expenses, payroll and client management for free. Upgrade to the Business Plan to unlock P&L reports, full tax year exports and accountant-ready documents.
Less than £10/month · Cancel anytime · 7-day refund guarantee
Common questions
Straight answers
Do I need a P&L as a sole trader?
You're not legally required to produce a formal P&L as a sole trader, but your self assessment tax return requires you to report your income and expenses, which is essentially what a P&L covers. Having one prepared in advance makes the process significantly easier.
Is the P&L report aligned to the UK tax year?
Yes. BFSB aligns all reports to the UK tax year — 6 April to 5 April. You can also generate reports for previous tax years if your historical data is recorded in the platform.
Can I share the P&L with my accountant?
Yes. The PDF export is designed to be accountant-ready, clearly formatted, categorised by expense type, and aligned to the UK tax year. Most accountants will be able to work directly from the exported document.
What if I have income that isn't from invoices?
BFSB includes an additional income section in the P&L where you can record grants, interest, or any other revenue that doesn't come through the invoicing system. It all flows into the final profit calculation.
Is the core platform really free?
Yes, invoicing, expenses, payroll and client management are permanently free. P&L reports and full tax year exports are part of the Business Plan at £120/year. No trial, no bait and switch.
Can I generate a P&L for a previous tax year?
Yes. If your invoices and expenses from a previous tax year are recorded in BFSB you can generate a P&L for that period. Select the relevant tax year from the report settings in your dashboard.
Start free.
Generate your P&L automatically
Create your free account today. Use invoicing, expenses and payroll for free, upgrade to the Business Plan when you need your P&L report.
No credit card · No trial · No catch