# The Reserve Forces (Payments to Employers and Partners) Regulations 2014, Paragraph 2

Extent: E+W+S+N.I.

For the purposes of paragraph 1, the annual turnover of an undertaking is—
(a) the undertaking’s turnover for the 12 months immediately preceding the date provided for in paragraph 4; or
(b) where that undertaking was established for a period of less than 12 months before that date, the undertaking’s turnover for that period increased proportionately to provide a figure for a period of 12 months.

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Source: https://www.legislation.gov.uk/uksi/2014/2410/schedule/1/paragraph/2 (the official version)
Page: https://openlegislation.uk/reserve-forces-payments-to-employers-and-partners-regulations-2014/schedule-1/paragraph-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.