The FSCS is focused on protecting personal customers and small businesses up to a certain size.
The size threshold for Limited companies is defined in the Companies Act 2006 and a business is a "small company" if it meets two of the following three criteria:
- Gross turnover not more than £6.5 Million
- Gross balance sheet total of not more than £3.26 million and
- Not more than 50 employees
Unincorporated associations (Mutual Associations) must have not more than £1.4 Million in net assets to be eligible under the scheme.