Business Income Source Summary (BISS)

The Business Income Source Summary is a brief overview of a particular business income source (e.g. self-employed business) that outlines the key financials held at HMRC for the current tax year.

The report can be accessed from the tax account page or the self-assessment Workflow by clicking on the Options menu and selecting Business Income Source Summary.

The report includes the following:

Income:
The total income declared for the given business source.

Expense:
The total expenses declared for the given business source.

Additions:
These are amounts added back to your income or profits, usually because they are not allowable expenses for tax purposes.

Deductions:
These are amounts subtracted from your income or profits, because they are allowable for tax even if they were not deducted in your accounts.

In the footer section you will be able to see the NET profit which is subject to tax.