SCHEDULES

SCHEDULE 19Large businesses: tax strategies and sanctions

PART 1Interpretation

“Turnover” and “balance sheet total”

14

1

“Turnover”—

a

in relation to a UK company, has the same meaning as in Part 15 of the Companies Act 2006 (see section 474 of that Act), and

b

in relation to a UK partnership or a UK permanent establishment, has a corresponding meaning.

2

“Balance sheet total”, in relation to a UK company, UK partnership or UK permanent establishment and a financial year, means the aggregate of the amounts shown as assets in its balance sheet at the end of the financial year.