Section 19(9)

Where the supplier is in its first financial year at the relevant time, the supplier is a small entity at the relevant time if at least two of the following conditions are met— Condition 1: the supplier's average turnover for each complete month in the supplier's first financial year is not more than £850,000; Condition 2: the aggregate of amounts which would be shown in a balance sheet of the supplier drawn up at the relevant time is not more than £5.1 million; Condition 3: the average number of persons employed by the supplier in the supplier's first financial year (determined as specified in subsection (7)) is not more than 50.

← 8 · All articles · 10 →

Source: legislation.gov.uk · retrieved 2026-09-04