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.
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