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HMRC internal manual

Senior Accounting Officer Guidance

What is a qualifying company: conditions for a qualifying company: turnover

A company must satisfy certain conditions to be a qualifying company, see SAOG11220.

It must be incorporated in the UK in accordance with Companies Act 2006, see SAOG11220, for a financial year. It must also have a certain level of turnover and / or balance sheet total for the preceding financial year.

For further guidance on

  • the turnover condition, see SAOG11231 
  • what is turnover, see SAOG11232, and
  • the action a Customer Compliance Manager (CCM) needs to take, see SAOG11233.

The guidance about the balance sheet condition is at SAOG11260.