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.