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.