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How to set out a three line profit and loss account?
PrincessLou
Posts: 503 Forumite
in Cutting tax
I am writing a letter to claim exemption from previous years national insurance as i didn't earn enough to pay tax or national insurance. When i spoke to HMRC they said just to write them a letter and include a three line profit and loss account for those couple of years.
What is a three line profit and loss account? and how do i set it out on a simple excel spreadsheet to send them?
Thanks
What is a three line profit and loss account? and how do i set it out on a simple excel spreadsheet to send them?
Thanks
Mortgage - £105,500
0
Comments
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PrincessLou wrote: »...What is a three line profit and loss account? and how do i set it out on a simple excel spreadsheet to send them?...
1. Income
2. Expenses
3. Profit/loss
1-2=30 -
That's all the information they need? Why does it seem too easy?Mortgage - £105,5000
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PrincessLou wrote: »That's all the information they need? Why does it seem too easy?
what were you expecting?
they do of course have the option of a full audit and can demand invoices etc but why bother for peanuts.0 -
PrincessLou wrote: »That's all the information they need? Why does it seem too easy?
There are other ways of checking on the veracity of the statement!The only thing that is constant is change.0
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