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Definition of Turnover

Definition of Turnover

For the purpose of calculating subscription, the turnover that must be declared is that resulting from:-
  • Book sales: Home and export sales by member companies (including sales to overseas offices, subsidiary companies and agents) of books, learned journals, book related materials, including audio-visual aids, software, and electronic publications; book and/or printed sheet sales to book clubs, other publishers (including foreign publishers), etc.; remainders and all other special sales; packaging activities.
  • Sublease Income: this includes the publisher's share of all income deriving from subleasing of volume, electronic and reprographic rights*
  • Learned Journals:  for subscription purposes, a learned journal is defined as one that exists mainly to publish the results of original research, discussion, analytical papers and associated materials, such as reviews and the current state of subject knowledge, for academic or other scholarly readership and whose primary source of revenue is not the sale of advertisement space
  • Electronic publications (including software)

*Paperback rights; book club rights; special editions (e.g. educational, large print, library); extract, anthology and quotation; digest; one-shot; second serial; picturisation; right of entry into publisher's market; translation rights; mechanical reproduction and reprographic rights; electronic and software publishing rights.

Financial year for subscription purposes

For subscription purposes, the financial year in respect of which turnover must be declared is the member's accounting year that terminated during the twelve months up to September 2018 for Bands 2 to 5a and the closest financial year for those in Band 1.


Subscriptions are liable to VAT at the standard rate.