Three companies in a group. Rounding off the numbers a little, but broadly they are right:
Company A (parent) - Turnover £8m (SMALL)
Gross assets - £7m (MEDIUM)
Staff - 42 (SMALL)
Size - SMALL
Company B - Turnover £2m (SMALL)
Gross assets - £1m (SMALL)
Staff - 1 (SMALL)
Company C - Turnover £0.3m (SMALL)
Gross assets - £0.2m (SMALL)
Staff - 1 (SMALL)
The group is:
Turnover - £10.3m (?????)
Gross assets - £8.2m (MEDIUM)
Staff - 44 (SMALL)
I therefore say, use the better of £10.2m or £12.2m and therefore group turnover makes them small, but another staff member is doubting me.
There is some intragroup sales, but it is very low, possibly less than the £100k I need to settle the matter.
Is the group medium or small please?
Replies (2)
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The size limits for groups (gross/net) are interchangeable in so far as you that if your gross sales exceeds the limit but if you strip out intercompany sales and fall below the net limits you could use this to retain small/medium status or vice versa.
In your example you breach the net limits (£10.3m less £100k intra-group sales) but remain under the gross limit so qualify as small.