Monday 2 December 2013

UK: The Small Companies (Micro-Entities’ Accounts) Regulations 2013

The Small Companies (Micro-Entities’ Accounts) Regulations 2013 were made on 28 November and came into force on 1 December: see here or here (pdf). The Regulations introduce exemptions from certain financial reporting requirements for very small companies and permit such companies to prepare and file abridged accounts. In doing so the Regulations partially implement European Directive 2013/34/EU and make changes to the Companies Act 2006. An explanatory memorandum is available here (pdf).

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