# Finance Act 2016, Paragraph 14


(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.

---
Source: https://www.legislation.gov.uk/ukpga/2016/24/schedule/19/paragraph/14 (the official version)
Page: https://openlegislation.uk/finance-act-2016/schedule-19/paragraph-14
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.