# Income Tax (Earnings and Pensions) Act 2003, Section 60A: When a company qualifies as small for a tax year


(1) For the purposes of this Chapter, a company qualifies as small for a tax year if one of the following conditions is met (but this is subject to section 60C).
(2) The first condition is that the company's first financial year is not relevant to the tax year.
(3) The second condition is that the small companies regime applies to the company for its last financial year that is relevant to the tax year.
(4) For the purposes of this section, a financial year of a company is “relevant to” a tax year if the period for filing the company's accounts and reports for the financial year ends before the beginning of the tax year.
(5) Expressions used in this section and in the Companies Act 2006 have the same meaning in this section as in that Act.

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Source: https://www.legislation.gov.uk/ukpga/2003/1/section/60A (the official version)
Page: https://openlegislation.uk/income-tax-earnings-and-pensions-act-2003/section-60A
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.