# The Corporation Tax (Instalment Payments) Regulations 1998, Regulation 3A: Large and very large companies: bank levy


(1) This regulation applies where a company is a relevant entity or a responsible member.
(2) Subject to paragraphs (4) to (7), a company is a very large company by virtue of this regulation in respect of an accounting period if its profits in that period exceed £20 million.
(3) A company which is not a very large company in respect of an accounting period by virtue of paragraph (2) is a large company in respect of that period.
(4) A company is not in respect of an accounting period a very large company by virtue of paragraph (2) if its total liability for the period does not exceed £10,000 (or such amount as applies by virtue of paragraph (7)).
(5) Where in an accounting period a company has one or more associated companies, whether the company is (or is not) a very large company by virtue of this regulation in respect of that period is to be determined by substituting in paragraph (2) “£20 million/1+N” for “£20 million”.
(6) The amount of “£20 million/1+N” in paragraph (5) is subject to paragraph (7).
(7) Where an accounting period is a period of less than 12 months, whether a company is (or is not) a very large company in respect of that period by virtue of this regulation is to be determined by making a proportionate reduction to the following amounts—
(a) £20 million in paragraph (2) or £20 million/1+N in that paragraph where paragraph (5) applies; and
(b) £10,000 in paragraph (4).
(8) For the purposes of this regulation—
(a) “N” has the same meaning as it has for the purposes of regulation 3; and
(b) “total liability” excludes any amount of bank levy payable.

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Source: https://www.legislation.gov.uk/uksi/1998/3175/regulation/3A (the official version)
Page: https://openlegislation.uk/corporation-tax-instalment-payments-regulations-1998/regulation-3A
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.