The Government is seeking views from SMEs around how to reduce the burden of reporting on their business. The consultation comes after a commitment was made earlier this year to reduce regulatory burdens on small- and medium-sized companies.
For SME members, if the proposed changes are made, this should reduce your reporting burden. The proposals are:
- Uplifting the employee threshold for medium-sized companies from no more than 250 to 500 employees.
- Exempting medium-sized companies from producing a strategic report (including companies that would be medium-sized except for the fact that they are a member of an ineligible group).
This consultation will run for six weeks and will close on Thursday 27 June. Email [email protected] to feed your views into the BVRLA response.
Non-financial reporting review: simpler corporate reporting - GOV.UK (www.gov.uk)
