Textual Amendments
F1Words in Pt. 13 heading omitted (with effect in relation to accounting periods beginning on or after 1.4.2024) by virtue of Finance Act 2024 (c. 3), Sch. 1 paras. 3, 16 (with Sch. 1 para. 18); S.I. 2024/286, reg. 2
(1)In this Part “small or medium-sized enterprise” means a micro, small or medium-sized enterprise as defined in Commission Recommendation (EC) No 2003/361, but subject to the qualifications in section 1120 [F2(and see sections 1120A and 1120B)].
(2)The Treasury may by order amend this section or [F3sections 1120 to 1120B] to substitute a different definition of “small or medium-sized enterprise” for the purposes of this Part.
(3)This section is subject to section 1081 (insurance companies to be treated as large companies for purposes of [F4Chapter 2]).
Textual Amendments
F2Words in s. 1119(1) inserted (with effect in relation to accounting periods beginning on or after 1.4.2023) by Finance (No. 2) Act 2023 (c. 30), Sch. 1 paras. 16(1)(a), 20
F3Words in s. 1119(2) substituted (with effect in relation to accounting periods beginning on or after 1.4.2023) by Finance (No. 2) Act 2023 (c. 30), Sch. 1 paras. 16(1)(b), 20
F4Words in s. 1119(3) substituted (with effect in accordance with Sch. 15 paras. 28, 29 of the amending Act) by Finance Act 2013 (c. 29), Sch. 15 para. 21