Article 4 Calculation of annual turnoverI1
United Kingdom
For the purpose of calculating the combined annual turnover within the meaning of article 3(3)—
the turnover achieved during the previous financial year by the relevant member of the association and the turnover achieved by its connected undertakings in respect of all goods and services, excluding all taxes and other duties, are to be added together;
no account is to be taken of dealings between the member of the association and its connected undertakings or between its connected undertakings.
The block exemption remains applicable where, for any period of two consecutive financial years, the combined annual turnover does not exceed the combined annual turnover threshold by more than 10%.
Annotations
Commencement
- I1
Art. 4 in force at 1.6.2022, see art. 1(b)