Significant changes affecting financial reporting have kicked in, meaning many businesses may be re-classified in
terms of their sizes.
The thresholds to determine whether a company is counted as ‘micro, small or medium’ changed on 6 April for the first time in 12 years. The Government announced the changed
in December 2024.
The figures on the potential impact of the changes released by the Government, indicated around 6,000 businesses would go from ‘large’ to ‘medium’ under the changes.
You may also like...
-
Thursday, February 6, 2025Read moreHMRC’s ‘Help for Hustles’ Campaign
This is a recent initiative by HMRC. The campaign is designed to assist individuals
who earn extra income outside their main job, ensuring t... -
Saturday, January 4, 2025Read more
Several tax-related changes to take effect
A number of tax changes are set to take effect in April, with National Insurance contributions for employers and a facet of Capital Gains Tax a...
-
Sunday, January 5, 2025Read more
Chancellor adds more fuel to ISA reform fire
After much rumour and conjecture, it seems that some potentially significant changes to ISAs (Individual Savings Accounts) are on
the way.
