30/04/2024
Company size limits
The government has announced plans to increase company size limits this summer by around 50%.
Whilst this will have little impact on reporting requirements for most charities the increase in the limits could see the reporting burden reduced for some charitable companies that are no longer classified as being either a medium or large sized company. This could include, for example, less charities having to provide details of carbon emissions and energy usage as part of their trustees’ report, although many may decide to continue to publish this information on a voluntary basis.
Sadly though no announcement has been made of any changes to the charity size limits which would have far greater impact for the sector. Charity reporting requirements, including the need to have
accounts audited, are based on different, lower limits which have remained unchanged for some time now and differ across the nations of the UK. A similar increase in those charity size limits and greater uniformity would have a far greater positive impact for the charity sector.
Guidance: Written statements – Written questions, answers and statements – UK Parliament
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