What Is a Profit and Loss Statement (P&L)? Format, Example and UK Filing Rules
25 August 2026
A profit and loss statement (P&L, or income statement) shows whether a business made a profit or a loss over a chosen period, by setting revenue against cost of goods sold and operating expenses to arrive at net profit. UK limited companies must file one with Companies House as part of their annual accounts; sole traders don’t file one separately but need the same figures for Self Assessment.
