{
  "url": "https://openlegislation.uk/finance-act-2016/schedule-19/paragraph-5",
  "json_url": "https://openlegislation.uk/finance-act-2016/schedule-19/paragraph-5.json",
  "legislation": "ukpga/2016/24",
  "legislation_title": "Finance Act 2016",
  "legislation_url": "https://openlegislation.uk/finance-act-2016",
  "path": "schedule/19/paragraph/5",
  "kind": "paragraph",
  "number": "5",
  "heading": null,
  "text": "(1) A UK company is a “qualifying company” in any financial year (subject to any regulations under sub-paragraph (5)) if sub-paragraph (2) or (3) applies to it.\n(2) This sub-paragraph applies to the company if, at the end of the previous financial year—\n(a) it satisfied the qualification test for a UK company, and\n(b) was not a member of a UK group or a UK sub-group.\n(3) This sub-paragraph applies to the company if, at the end of the previous financial year—\n(a) it was a member of a foreign group,\n(b) the group met the qualification test for a group, and\n(c) it was not a member of a UK sub-group of that foreign group.\n(4) The qualification test for a UK company is that the company satisfied either or both of the following conditions (by reference to the previous financial year)—\n1. The company's turnover\nMore than £200 million\n2. The company's balance sheet total\nMore than £2 billion.\n(5) The Treasury may by regulations provide that a company of a description specified in the regulations is not a qualifying company for the purposes of this Schedule (or any such purpose specified in the regulations).\n(6) For the purposes of this paragraph a UK permanent establishment of a foreign relevant body is to be treated as if it were—\n(a) a UK company, and\n(b) if the foreign relevant body is a member of a UK group or a UK sub-group, a member of that group or sub-group.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [
    {
      "type": "words substituted",
      "affecting": "ukpga/2017/32",
      "affecting_title": "Finance (No. 2) Act 2017"
    },
    {
      "type": "words inserted",
      "affecting": "ukpga/2017/32",
      "affecting_title": "Finance (No. 2) Act 2017"
    },
    {
      "type": "words substituted",
      "affecting": "ukpga/2017/32",
      "affecting_title": "Finance (No. 2) Act 2017"
    },
    {
      "type": "words inserted",
      "affecting": "ukpga/2017/32",
      "affecting_title": "Finance (No. 2) Act 2017"
    },
    {
      "type": "words substituted",
      "affecting": "ukpga/2017/32",
      "affecting_title": "Finance (No. 2) Act 2017"
    },
    {
      "type": "words inserted",
      "affecting": "ukpga/2017/32",
      "affecting_title": "Finance (No. 2) Act 2017"
    },
    {
      "type": "words inserted",
      "affecting": "ukpga/2017/32",
      "affecting_title": "Finance (No. 2) Act 2017"
    },
    {
      "type": "words substituted",
      "affecting": "ukpga/2017/32",
      "affecting_title": "Finance (No. 2) Act 2017"
    },
    {
      "type": "words renumbered as Sch. 19 para. 12(5)(a)",
      "affecting": "ukpga/2017/32",
      "affecting_title": "Finance (No. 2) Act 2017"
    },
    {
      "type": "word inserted",
      "affecting": "ukpga/2017/32",
      "affecting_title": "Finance (No. 2) Act 2017"
    },
    {
      "type": "inserted",
      "affecting": "ukpga/2017/32",
      "affecting_title": "Finance (No. 2) Act 2017"
    }
  ],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2016/24/schedule/19/paragraph/5",
    "retrieved_at": "2026-10-29T09:06:05.350093+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}