Guidance

How to calculate your taxable profits (Self Assessment helpsheet HS222)

Find out how to calculate your taxable profits.

• From: HM Revenue & Customs
• Published: 4 July 2014
• Last updated: 7 April 2026
  Show all updates

  1. 7 April 2026

     The helpsheet and working sheets 1 and 2 for tax year 2025 to 2026 have been added. The versions for tax year 2021 to 2022 have been removed.

  2. 6 April 2025

     The helpsheet and working sheets 1 and 2 for tax year 2024 to 2025 have been added. The versions for tax year 2020 to 2021 have been removed.

  3. 11 April 2024

     'Working Sheet 3: work out your transition profit (2024)' has been added.

  4. 6 April 2024

     The helpsheet and working sheets 1 and 2 for tax year 2023 to 2024 have been added. The versions for tax year 2019 to 2020 have been removed.

  5. 6 April 2023

     The helpsheet and working sheets have been added for the tax year 2022 to 2023. The helpsheet and working sheet for 2019 have been removed.

  6. 6 April 2022

     The helpsheet and working sheet have been added for the tax year 2021 to 2022. The helpsheet and working sheet for 2018 have been removed.

  7. 6 April 2021

     The helpsheet and working sheet have been added for the tax year 2020 to 2021.

  8. 6 April 2020

     A new version of the helpsheet and notes have been added for the 2019 to 2020 tax year.

  9. 6 April 2019

     The helpsheet and working sheet have been added for the tax year 2018 to 2019.

  10. 6 April 2018

      The helpsheet and working sheet have been added for the tax year 2017 to 2018.

  11. 6 April 2017

      The helpsheet and working sheet have been added for the tax year 2016 to 2017.

  12. 6 April 2016

      Rates, allowances and duties have been updated for the tax year 2016 to 2017.

  13. 6 April 2015

      Rates, allowances and duties have been updated for the tax year 2015 to 2016.

  14. 4 July 2014

      First published.

Documents

HS222 How to calculate your taxable profits (2026)

HTML

Working Sheet 1: work out the adjustment (2026)

PDF, 175 KB, 1 page

This file may not be suitable for users of assistive technology.

Request an accessible format

If you use assistive technology (such as a screen reader) and need a version of this document in a more accessible format, please email different.format@hmrc.gov.uk. Please tell us what format you need. It will help us if you say what assistive technology you use.

Working Sheet 2: how much to claim (2026)

PDF, 168 KB, 1 page

This file may not be suitable for users of assistive technology.

Request an accessible format

If you use assistive technology (such as a screen reader) and need a version of this document in a more accessible format, please email different.format@hmrc.gov.uk. Please tell us what format you need. It will help us if you say what assistive technology you use.

HS222 How to calculate your taxable profits (2025)

HTML

Working Sheet 1: work out the adjustment (2025)

PDF, 175 KB, 1 page

This file may not be suitable for users of assistive technology.

Request an accessible format

If you use assistive technology (such as a screen reader) and need a version of this document in a more accessible format, please email different.format@hmrc.gov.uk. Please tell us what format you need. It will help us if you say what assistive technology you use.

Working Sheet 2: how much to claim (2025)

PDF, 166 KB, 1 page

This file may not be suitable for users of assistive technology.

Request an accessible format

If you use assistive technology (such as a screen reader) and need a version of this document in a more accessible format, please email different.format@hmrc.gov.uk. Please tell us what format you need. It will help us if you say what assistive technology you use.

HS222 How to calculate your taxable profits (2024)

HTML

Working Sheet 1: work out the adjustment (2024)

PDF, 173 KB, 1 page

This file may not be suitable for users of assistive technology.

Request an accessible format

If you use assistive technology (such as a screen reader) and need a version of this document in a more accessible format, please email different.format@hmrc.gov.uk. Please tell us what format you need. It will help us if you say what assistive technology you use.

Working Sheet 2: how much to claim (2024)

PDF, 166 KB, 1 page

This file may not be suitable for users of assistive technology.

Request an accessible format

If you use assistive technology (such as a screen reader) and need a version of this document in a more accessible format, please email different.format@hmrc.gov.uk. Please tell us what format you need. It will help us if you say what assistive technology you use.

Working Sheet 3: work out your transition profit (2024)

PDF, 407 KB, 7 pages

This file may not be suitable for users of assistive technology.

Request an accessible format

If you use assistive technology (such as a screen reader) and need a version of this document in a more accessible format, please email different.format@hmrc.gov.uk. Please tell us what format you need. It will help us if you say what assistive technology you use.

HS222 How to calculate your taxable profits (2023)

HTML

Working Sheet 1: work out the adjustment (2023)

PDF, 173 KB, 1 page

This file may not be suitable for users of assistive technology.

Request an accessible format

If you use assistive technology (such as a screen reader) and need a version of this document in a more accessible format, please email different.format@hmrc.gov.uk. Please tell us what format you need. It will help us if you say what assistive technology you use.

Working Sheet 2: how much to claim (2023)

PDF, 167 KB, 1 page

This file may not be suitable for users of assistive technology.

Request an accessible format

If you use assistive technology (such as a screen reader) and need a version of this document in a more accessible format, please email different.format@hmrc.gov.uk. Please tell us what format you need. It will help us if you say what assistive technology you use.

Details

Work out your taxable profits if you’re self employed or in a partnership. It covers:

• accounting periods
• how business profits are taxed
• cost of sales
• allowable business expenses
• basis periods
• overlap profits and relief
• capital allowances and balancing charges
• commencements and cessations
• losses ― terminal loss relief
• partners’ trading or professional profits
• providing personal services through a partnership

From 2013 to 2014 it also includes:

• cash basis
• simplified expenses