| Commentary

24 Companies eligible for CVA moratorium

| Commentary

24 Companies eligible for CVA moratorium

A CVA moratoriumis available to a company which falls within the meaning of the expression ‘small company’ in the Companies Act 2006 for accounting purposes in its last complete financial year before the commencement of the moratorium, unless one of number of special exceptions applies1. For accounting purposes, a small company is defined as one that fulfils two, out of three, of the following conditions2:

  1. 24.1

        Turnover not more than £10.2million;

  2. 24.2

        Balance sheet total not more than £5.1 million; or

  3. 24.3

        not more than 50 employees.

    The special exceptions include where the company3:

  4. 24.4

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