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Companies Act 2006

Accounts Exemption Thresholds for companies with accounting periods starting on or after 6th April 2008

Small company
To be a small company, at least two of the following conditions must be met:

  • Annual turnover must be £6.5 million or less
  • The balance sheet total must be £3.26 million or less
  • The average number of employees must be 50 or fewer

Small group
To qualify as small, a group of companies must meet at least two of the following conditions:

  • Aggregate turnover must be £6.5 million net (or £7.8 million gross) or less
  • The aggregate balance sheet total must be £3.26 million net (or £3.9 million gross) or less
  • The aggregate average number of employees must be 50 or fewer

Total audit exemption
To qualify for total audit exemption, a company must:

  • Qualify as small
  • Have a turnover of not more than £6.5 million
  • Have a balance sheet total of not more than £3.26 million

Medium-sized company
To be a medium-sized company, at least two of the following conditions must be met:

  • Annual turnover must be £25.9 million or less
  • The balance sheet total must be £12.9 million or less
  • The average number of employees must be 250 or fewer

Medium-sized group
To qualify as medium-sized, a group of companies must meet at least two of the following conditions:

  • Aggregate turnover must be £25.9 million net (or £31.1 million gross) or less
  • The aggregate balance sheet total must be £12.9 million net (or £15.5 million gross) or less
  • The aggregate average number of employees must be 250 or fewer
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