Abbreviated accounts: Difference between revisions
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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) |
imported>Doug Williamson (Broaden definition to include non-UK and non-Companies Act context.) |
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1. | |||
''UK Company law''. | ''UK Company law''. | ||
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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. | ||
2. | |||
Similarly shortened accounts produced in other jurisdictions or for other purposes. | |||
== See also == | == See also == | ||
Revision as of 15:19, 20 July 2014
1.
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.
2.
Similarly shortened accounts produced in other jurisdictions or for other purposes.
