The small companies regime
The small companies regime

The following Corporate guidance note provides comprehensive and up to date legal information covering:

  • The small companies regime
  • Brexit impact
  • When the small companies regime applies
  • Annual accounts and reports
  • Requirement for accounts to be audited
  • Accounts to be filed—small companies

The statutory rules governing the annual accounts and reports of small companies (other than micro-entities) are set out in:

  1. Part 15 of the Companies Act 2006 (CA 2006)

  2. the Small Companies and Groups (Accounts and Directors’ Report) Regulations 2008 (Small Companies Regulations)

  3. the Companies, Partnerships and Groups (Accounts and Reports) Regulations 2015 (2015 Regulations)

This Practice Note deals with the accounting regime as applied to small companies under the 2015 Regulations. The 2015 Regulations implemented various changes to the accounting regime for companies and apply in relation to financial periods beginning on or after 1 January 2016 (or on or after 1 January 2015 where the directors of the co