InvoiceBerry Tips for for Freelancers & Small Businesses 11 Invoicing Terms for Your Business | Page 12

9. Profit and Loss Statement
A P&L lists the revenues, costs and expenses for a specific time
period. This time period is usually your fiscal year, or it could be
a fiscal quarter (for larger companies).
In the UK, if you’re a sole trader or limited company making
more than £50,000 a year, you’re required to submit one to the
HMRC.
InvoiceBerry has free P&L templates by clicking here.