Home > > 2007/08 Rates and Allowances > Qualification to be a small and medium sized company
Qualification to be a small and medium sized company
Qualification applies if two or more of the following criteria are met in the current and preceding year
| Type of Company | Qualification Requirements | Not More Than |
| Small company | Turnover | £5.6m |
| Balance sheet total | £2.8m | |
| Number of employees | 50 | |
| Medium sized company | Turnover | £22.8m |
| Balance sheet total | £11.4m | |
| Number of employees | 250 | |
| Small group | Turnover | £5.6m net or £6.7m gross |
| Balance sheet total | £2.8m net or £3.36m gross | |
| Number of employees | 50 | |
| Medium sized group | Aggregate Turnover | £22.8m or £27.36m gross |
| Aggregste balance sheet total | £11.4m or £13.68m gross | |
| Aggregate number of employees | 250 |
2008/09 Rates and Allowances
Main taxes
- Key dates and deadlines
- Income tax
- Corporation tax
- Inheritance tax
- Capital gains tax
- Value added tax
- NI contributions
- Residential property letting taxation
- Main capital allowances
- Business deductions
- Penalties for late returns