OpenLegislation

Paragraph 14

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

(1)

“Turnover”—

(a)

in relation to a UK company, has the same meaning as in Part 15 of the Companies Act 2006 (see section 474 of that Act), and

(b)

in relation to a UK partnership or a UK permanent establishment, has a corresponding meaning.

(2)

“Balance sheet total”, in relation to a UK company, UK partnership or UK permanent establishment and a financial year, means the aggregate of the amounts shown as assets in its balance sheet at the end of the financial year.