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374. LLPs excluded from being treated as micro-entities

Past version: effective from 21/10/2015 - 20/10/2015
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(1) The micro-entity provisions do not apply in relation to an LLP's accounts for a particular financial year if the LLP was at any time within that year an LLP excluded from the small LLPs regime by virtue of section 371 (LLPs excluded from the small LLPs regime).
(2) The micro-entity provisions also do not apply in relation to an LLP's accounts for a financial year if —
(a) the LLP is a parent LLP which prepares group accounts for that year as permitted by section 388 (option to prepare group accounts), or
(b) the LLP is not a parent LLP but its accounts are included in the consolidated group accounts for that year."