11.—(1) The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 are amended as follows.
(2) In regulation 5 (LLPs subject to the small LLPs regime), in section 382(3) (companies qualifying as small: general) as applied to LLPs by that regulation, in the second column of the table(1)—
(a)for “Not more than £10.2 million” substitute “Not more than £15 million”;
(b)for “Not more than £5.1 million” substitute “Not more than £7.5 million”.
(3) In regulation 5 (LLPs subject to the small LLPs regime), in section 383(4) (companies qualifying as small: parent companies) as applied to LLPs by that regulation, in the second column of the table(2)—
(a)for “Not more than £10.2 million net (or £12.2 million gross)” substitute “Not more than £15 million net (or £18 million gross)”;
(b)for “Not more than £5.1 million net (or £6.1 million gross)” substitute “Not more than £7.5 million net (or £9 million gross)”.
(4) In regulation 5A (LLPs qualifying as micro-entities)(3), in section 384A(4) (companies qualifying as micro-entities) as applied to LLPs by that regulation, in the second column of the table—
(a)for “Not more than £632,000” substitute “Not more than £1 million”;
(b)for “Not more than £316,000” substitute “Not more than £500,000”.
(5) In regulation 26 (medium-sized LLPs), in section 465(3) (companies qualifying as medium-sized: general) as applied to LLPs by that regulation, in the second column of the table(4)—
(a)for “Not more than £36 million” substitute “Not more than £54 million”;
(b)for “Not more than £18 million” substitute “Not more than £27 million”.
(6) In regulation 26 (medium-sized LLPs), in section 466(4) (companies qualifying as medium-sized: parent companies) as applied to LLPs by that regulation, in the second column of the table(5)—
(a)for “Not more than £36 million net (or £43.2 million gross)” substitute “Not more than £54 million net (or £64 million gross)”;
(b)for “Not more than £18 million net (or £21.6 million gross)” substitute “Not more than £27 million net (or £32 million gross)”.
(7) In this regulation “LLP” means a limited liability partnership registered under the Limited Liability Partnerships Act 2000.
Subsection (3) was amended by S.I. 2016/575.
Subsection (4) was amended by S.I. 2016/575.
Regulation 5A was inserted by S.I. 2016/575.
Subsection (3) was amended by S.I. 2016/575.
Subsection (4) was amended by S.I. 2016/575.