This Content Was Last Updated on February 9, 2017 by Jessica Garbett


Details of new threshold limits for small companies.

Statutory Instrument 2015 no. 98 The Companies, Partnerships and Group (accounts and reports) Regulations 2015 sets out the new threshold limits.

The thresholds for a small company are:



Balance sheet total


Number of employees




The thresholds apply for reporting requirements and are not audit thresholds. The audit thresholds are unchanged. The new thresholds will apply for financial years beginning on or after 1 January 2016; however, companies meeting the thresholds will have the option of accessing the small company accounting regime ahead of that date for periods beginning 1 January 2015.

See ACCA’s technical advisory website for further information.

Article contributed by ACCA In Practice