Liverpool and other clubs such as Monaco who are not playing in Europe this season will not have to pass UEFA's break-even rule in order to take part in the next Champions League campaign, it has been confirmed.
Only the 237 clubs who took part in this season's Champions League and Europa League are currently being assessed, UEFA has confirmed.
UEFA has revealed 76 of these are being investigated and face sanctions this summer - including possible disqualification from next season's competitions - if they fail to comply with Financial Fair Play (FFP).
Clubs such as Liverpool and Monaco who have not been in Europe face no threat of sanctions this summer for failing to break even. They would be assessed next autumn - along with all the other clubs in UEFA competitions next season - with any sanctions applicable in 2015.
Liverpool this week announced losses of £49.8million up to the end of May 2013, and a further £40.5m over the previous 10 months leading to some concern over whether the club would comply with UEFA's FFP rules.
A UEFA spokesman confirmed to Press Association Sport that clubs not involved in Europe this season will not be assessed until next season.
Liverpool remain hopeful that they will comply despite their losses. The club may be able to write off a loan made by owners Fenway Sports Group to repay a £38million loan taken out to develop stadium plans by the former owners Tom Hicks and George Gillett.
The autumn financial review by UEFA will look at clubs' finances over the 2011/12, 2012/13 and 2013/14 seasons, plus an estimate of the position over the two years to come.
That means the impact of the new bumper Premier League TV deal would be reflected in the English clubs' accounts.
Manchester City, who have lost £149million in the past two seasons, have the most to fear among Premier League clubs, while on the continent Paris St Germain are also in the spotlight.
Source: PA
