Related Commentary  Related HMRC Manuals

931S(1)  For the purposes of this Part a company is a “small company” in an accounting period if it is in that period a micro or small enterprise, as defined in the Annex to Commission Recommendation 2003/361/EC of 6 May 2003.

931S(2)  But a company is not a “small company” in an accounting period if it is at any time in that period–

(a)an open-ended investment company,

(b)an authorised unit trust scheme,

(c)an insurance company, or

(d)a friendly society.

931S(3)  In subsection (2)–

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