The Postal Services Act 2011 (Penalties) (Rules for Calculation of Turnover) Order 2012

• Citation: S.I. 2012/1127
• Sections: 5

Section 1 Citation and commencement

This Order may be cited as the Postal Services (Penalties) (Rules for Calculation of Turnover) Order 2012 and comes into force on the day following the day on which it is made.

Section 2 Rules for calculation of turnover for the purposes of Schedule 7

The rules for the calculation of turnover for the purposes of paragraph 7 of Schedule 7 to the Postal Services Act 2011 shall be the rules set out in the Schedule to this Order.

Section 1 General rules

The turnover of a person’s postal services business shall be calculated in conformity with accounting practices and principles which are generally accepted in the United Kingdom.

Section 2 General rules

The turnover shall be limited to the amounts derived from the person’s postal services business after deduction of sales rebates, value added tax and other taxes directly related to turnover.

Section 3 General rules

When a person’s postal services business consists of two or more undertakings that each prepare accounts then the turnover shall be calculated by adding together the turnover of each, save that no account shall be taken of any turnover resulting from the supply of goods or the provision of services between them.