Abbreviated accounts: Difference between revisions
From ACT Wiki
Jump to navigationJump to search
imported>Doug Williamson (Spacing & classification.) |
imported>Doug Williamson m (Wiki/Gloss Law/Fin reg check:Reworded - medium sized companies have to fulfill certain requirements that don't apply to small business. See companies house: http://www.companieshouse.gov.uk/companiesAct/implementations/apr2008AccStatement.shtml) |
||
| Line 1: | Line 1: | ||
''UK Company law''. | ''UK Company law''. | ||
In order to reduce administrative burdens on small | In order to reduce administrative burdens on small companies in the UK, they are not required under UK company law to produce full accounts for public filing at Companies House. | ||
Instead they are allowed to prepare and file shorter-form 'abbreviated accounts'. | Instead they are allowed to prepare and file shorter-form 'abbreviated accounts'. | ||
Medium sized companies can also file abbreviated accounts if they fulfill certain requirements. | |||
However, fuller-form and more detailed company accounts are still required for other purposes. For example for tax purposes and for reporting to the shareholders. | However, fuller-form and more detailed company accounts are still required for other purposes. For example for tax purposes and for reporting to the shareholders. | ||
Revision as of 09:53, 22 January 2014
UK Company law.
In order to reduce administrative burdens on small companies in the UK, they are not required under UK company law to produce full accounts for public filing at Companies House. Instead they are allowed to prepare and file shorter-form 'abbreviated accounts'.
Medium sized companies can also file abbreviated accounts if they fulfill certain requirements.
However, fuller-form and more detailed company accounts are still required for other purposes. For example for tax purposes and for reporting to the shareholders.
