Part 1 Key Definitions
Finance Act 2022 (2022 c 3) | Legislation

SCHEDULE 17 Large Businesses: Notification of Uncertain Tax Treatment

Section 96

Part 1 Key Definitions

1

This Part applies for the purposes of this Schedule.

“Company” and “qualifying company”

2

(1)     “Company” means a body corporate (wherever incorporated) but does not include—

(a)     a limited liability partnership that is a partnership for the purposes of this Schedule (see paragraph 4);

(b)     a public authority as defined by the Freedom of Information Act 2000 or a Scottish public authority as defined by the Freedom of Information (Scotland) Act 2002 (asp 13);

(c)     an open-ended investment company within the meaning of section 613 of CTA 2010;

(d)     a registered society within the meaning of—

(i)     the Co-operative and Community Benefit Societies Act 2014, or

(ii)     the Co-operative and Community Benefit Societies Act (Northern Ireland) 1969 (c 24 (NI)).

(2)     A company is a “qualifying company” in any financial year if, in the previous financial year, the company had either or both of the following—

(a)     relevant UK turnover of more than £200 million;

(b)     a relevant UK balance sheet total of more than £2 billion.

(3)     If the company was not a member

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