{"id":27449,"date":"2024-11-18T11:40:52","date_gmt":"2024-11-18T11:40:52","guid":{"rendered":"https:\/\/smh.group\/?p=27449"},"modified":"2024-11-18T11:40:52","modified_gmt":"2024-11-18T11:40:52","slug":"upcoming-changes-to-company-size-thresholds","status":"publish","type":"post","link":"https:\/\/devstagesite.co.uk\/smhgroup\/upcoming-changes-to-company-size-thresholds\/","title":{"rendered":"Upcoming Changes to Company Size Thresholds"},"content":{"rendered":"

The thresholds defining company sizes, unchanged since 2016, are set to be updated on 6 April 2025. Additionally, Companies House plans to implement new identity verification requirements for directors and people with significant control (PSCs) by late 2025.<\/strong><\/p>\n

Static reporting thresholds, along with a couple of years of relatively high inflation, will have drawn more companies into reporting requirements that may not be appropriate for them.<\/p>\n

Threshold sizes<\/strong><\/p>\n

The company size thresholds are expected to increase by approximately 50%, although there will be no change for the average number of employees. The new thresholds \u2013 with current thresholds bracketed \u2013 will be:<\/p>\n\n\n\n\n\n\n
 <\/td>\nMicro-entity<\/strong><\/td>\nSmall company<\/strong><\/td>\nMedium-sized company<\/strong><\/td>\n<\/tr>\n
Turnover<\/strong><\/td>\n\u00a31 million (\u00a3632,000)<\/td>\n\u00a315 million (\u00a310.2 million)<\/td>\n\u00a354 million (\u00a336 million)<\/td>\n<\/tr>\n
Balance Sheet<\/strong><\/td>\n\u00a3500,000 (\u00a3316,000)<\/td>\n\u00a37.5 million (\u00a35.1 million)<\/td>\n\u00a327 million (\u00a318 million)<\/td>\n<\/tr>\n
Average number of employees<\/strong><\/td>\n10<\/td>\n50<\/td>\n500<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

To qualify as a micro-entity, small or medium-sized company, a company must normally not exceed two of the three relevant criteria above.<\/p>\n

As a result of the redefinition exercise:<\/p>\n