PART 2 U.K. Amendments to the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008

Medium-sized LLPs U.K.

17.—(1) Regulation 26 (medium-sized LLPs) is amended as follows.

(2) In the table in section 465(3) (LLPs qualifying as medium-sized: general)—

(a) in item 1 (turnover), for “Not more than £25.9 million” substitute “Not more than £36 million”; and

(b) in item 2 (balance sheet total), for “Not more than £12.9 million” substitute “Not more than £18 million”.

(3) In the table in section 466(4) (LLPs qualifying as medium-sized: parent LLPs)—

(a) in item 1 (aggregate turnover), for “Not more than £25.9 million net (or £31.1 million gross)” substitute “Not more than £36 million net (or £43.2 million gross)”; and

(b) in item 2 (aggregate balance sheet total), for “Not more than £12.9 million net (or £15.5 million gross)” substitute “Not more than £18 million net (or £21.6 million gross)”.

(4) In section 467 (LLPs excluded from being treated as medium-sized)—

(a) for subsection (1)(a) substitute—

“(a) a traded LLP,”; and

(b) for subsection (2)(a) substitute—

“(a) a traded company,”.

Commencement Information

I1 Reg. 17 in force at 17.5.2016, see reg. 2(1)