Small Company Exemptions 2020-21
Company Tax Rates
Turnover Balance Sheet total Average Employees
not more than Not more than Not more than
Company £6.5M £3.26M 50
Group - Net £6.5M £3.26M 50
In order to qualify as small in any financial year (other than its first) it must:
a) Meet the qualifying conditions in the current year and the previous year; or,
b) Meet the conditions in the current year and qulaify as small in the previous year; or
c) Meet the conditions in the previous year and qualify as small in the previous year.