Statistical Notice 2026/06 - Form PL - updates to definitions

The Bank of England will be updating the Form PL (Profit and Loss) definitions to improve consistency and alignment with the ONS UK National Accounts requirements.

Form PL collects data on reporting institutions’ income and expenditure and is a key input into the compilation of the UK National Accounts and Balance of Payments.

These updates reflect feedback received from reporting institutions and internal review of the existing definitions.

The updated Form PL definitions will be:

The most significant change relates to the treatment of tax (PL16 / PL.01.01.01 C0010 R1600). The definition and reporting guidance for tax has been updated to provide clarity on treatment of items classified as taxes on production and related charges. 

Firms should review the updated Form PL definitions in full once published, update internal systems and reporting processes where required and ensure their relevant teams are aware of the changes ahead of Q1 2027 reporting. 

We do not anticipate major changes in reporting. However, if you think this would significantly change your reporting or have any questions regarding these changes, please contact the PL team at: [email protected].

A summary of all Statistical Notice items that are yet to come into effect are also available to view on the Statistical notices page. Statistical Notices should be received by all those responsible for the completion of Bank of England returns. To amend the circulation list please subscribe.

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