Fiducia TogetherTurnover
Total sales before any costs. Not income, not profit, and the number people quote.
Please note: This page explains what a term means. It is general information, not legal, financial, tax or investment advice, and it does not know anything about your business. Before you sign, file or commit to anything, check it with an accountant, a solicitor, or the official guidance we link to.
What it means
Turnover is the total value of sales in a period, excluding VAT.
Why it matters
It is the headline number and the least informative one. A million pounds of turnover at a 2% margin is a worse business than two hundred thousand at 30%.
What it looks like in practice
It matters for thresholds: VAT registration, company size classification, audit requirements and some reliefs all key off turnover.
What to watch out for
Turnover as a measure of success. "We doubled turnover" says nothing about whether the business is better off, and sometimes it is worse.
Where to get proper advice
Your accountant. This is exactly the kind of question they answer in ten minutes and most owners never ask.
Where to read more
Last reviewed 2026-08-28 by Fiducia Together · Next review due 2027-08-28
Please note: This page explains what a term means. It is general information, not legal, financial, tax or investment advice, and it does not know anything about your business. Before you sign, file or commit to anything, check it with an accountant, a solicitor, or the official guidance we link to.