The Statement of Financial Performance (AKA the ‘Profit & Loss’!)

The purpose of this report is to show all your taxable income and expenses so we can work out how much profit you have made, and what tax you have to pay on that.

This report feeds into your tax return for the year – your client manager will usually show you this in your end-of-year meeting.

There are also some calculations we can do from this report that will help you see things like your business model type, profit drivers, and efficiency.