Section 55 UK revenue: amount

United Kingdom

(1)

A person’s UK revenue—

(a)

is F1in band A for a financial year if the person’s UK revenue for the relevant accounting period is more than £10.2 million but not more than £36 million;

(b)

is F2in band B for a financial year if the person’s UK revenue for the relevant accounting period is more than £36 million but not more than £500 million;

F3(ba)

is in band C for a financial year if the person’s UK revenue for the relevant accounting period is more than £500 million but not more than £1 billion;

(c)

is F4in band D for a financial year if the person’s UK revenue for the relevant accounting period is more than £1 billion.

(2)

To determine the “relevant accounting period”, see section 56.

(3)

The sums in subsection (1) are to be proportionately adjusted if the relevant accounting period of the person is a period other than 12 months.

Annotations

Textual amendments

F1: Words in s. 55(1)(a) substituted (for the financial year beginning with April 2026 and subsequent financial years) by Finance Act 2026 (c. 11), s. 113(2)(a)(4)
F2: Words in s. 55(1)(b) substituted (for the financial year beginning with April 2026 and subsequent financial years) by Finance Act 2026 (c. 11), s. 113(2)(b)(4)
F3: S. 55(1)(ba) inserted (for the financial year beginning with April 2026 and subsequent financial years) by Finance Act 2026 (c. 11), s. 113(2)(c)(4)
F4: Words in s. 55(1)(c) substituted (for the financial year beginning with April 2026 and subsequent financial years) by Finance Act 2026 (c. 11), s. 113(2)(d)(4)