Self-Employed Profit Calculation

What your profit calculation includes

To calculate your taxable profit properly, we bring your income and expenses together and apply the correct UK tax treatment.

• Review of sales and other income for the tax year
• Checks for missing items and obvious duplicates
• Categorisation of expenses and identification of allowable business costs
• Treatment of mixed personal and business spending where relevant
• Consideration of common sole trader adjustments (for example, simplified expenses where appropriate)
• A clear profit summary you can use for your Self Assessment return

When this service is most useful

This is a good fit if you are self-employed and want confidence that your profit is right before you file.

• You have multiple income streams (for example, contracts, platforms, ad hoc work)
• Your bank account mixes personal and business spending
• You are unsure what you can claim, or you do not want to risk overclaiming
• You are catching up on records and want to get to a reliable year-end figure
• You want an accurate profit figure before discussing tax, budgeting, or cash flow

How the calculation is done

We start by confirming the tax year, how you trade, and what records you keep. We then reconcile income and costs from your source documents, query anything unclear, and apply HMRC rules on allowability and apportionment. You will get a straightforward breakdown so you can see how the profit figure was reached.

What you receive and what happens next

You receive a profit calculation summary that is ready to feed into your Self Assessment and useful for planning. If needed, we can highlight areas to improve record keeping for next year and identify items to track monthly so your numbers stay accurate throughout the year.