How to set out a three line profit and loss account?

PrincessLou

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

antrobus

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=3

PrincessLou

That's all the information they need? Why does it seem too easy?

CLAPTON

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.

dtaylor84

See also this factsheet from HMRC.

zygurat789

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!