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374. Companies Excluded From Being Treated As Micro-Entities

Past version: effective from 29/04/2020 - 28/04/2020
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(1) The micro-entity provisions do not apply in relation to a company’s accounts for a particular financial year if the company was at any time within that year a company excluded from the small companies regime by virtue of section 371 (companies excluded from the small companies regime).
(2) The micro-entity provisions also do not apply in relation to a company’s accounts for a financial year if –
(a) the company is a parent company which prepares group accounts for that year as permitted by section 388 (option to prepare group accounts), or
(b) the company is not a parent company but its accounts are included in consolidated group accounts for that year.