Consultation outcome

Non-financial reporting review: simpler corporate reporting

From:: Department for Business and Trade
Published: 16 May 2024
Last updated: 14 October 2024 — See all updates

Read the full outcome

Simpler corporate reporting consultation: summary of responses

HTML

Detail of outcome

The consultation sought views on the proposals affecting medium-sized companies only. These proposals included whether to raise the employee threshold that help determine company size from 250 to 500 employees for medium-sized companies and whether to exempt medium-sized private companies from having to prepare a Strategic Report as part of the annual reports and accounts.

The proposals are not being taken forward at this time but will be considered as part of the government’s broader non-financial reporting review.

Original consultation

Consultation description

This consultation marks the next phase of the government’s non-financial reporting review and concentrates on medium-sized companies. It seeks views on raising the employee threshold for medium-sized companies from not more than 250 employees to 500 employees and exempting eligible medium-sized companies from having to produce a Strategic Report.

This is part of the Smarter Regulation programme which aims to improve regulation, reduce burdens and drive economic growth now that the UK has left the European Union.

Documents