INTM652080 - Distribution exemption: Exemption for small companies: exclusions from definition

Which types of small companies do not qualify for exemption?

Certain types of company are not treated as small companies for the purposes of CTA09/Part 9A irrespective of their size (S931S). A company is not a “small company” in an accounting period if it is at any time in that period:

• an open-ended investment company,
• an authorised unit trust scheme,
• an insurance company, or
• a friendly society.

The meanings of these terms are given by CTA09/S931S(3).