Section 60A — Income Tax (Earnings and Pensions) Act 2003: When a company qualifies as small for a tax year

When a company qualifies as small for a tax year 60A 1 For the purposes of this Chapter, a company qualifies as small for a tax year if one of the following conditions is met (but this is subject to section 60C).

2 The first condition is that the company's first financial year is not relevant to the tax year.

3 The second condition is that the small companies regime applies to the company for its last financial year that is relevant to the tax year.

4 For the purposes of this section, a financial year of a company is “relevant to” a tax year if the period for filing the company's accounts and reports for the financial year ends before the beginning of the tax year.

5 Expressions used in this section and in the Companies Act 2006 have the same meaning in this section as in that Act.