It is now coming up to a year when the Government introduced audit exemptions for small limited companies and subsidiaries of groups.
To recap, this exemption is available to small companies and subsidiaries of groups who meet two of the following criteria in both the current and preceding year:
- Employee count of 50 or under
- Total assets of no more than £3.26m
- Turnover under £6.5m
Previously, as a small limited company, the Directors would have had to give access, to auditors, their books, and give onerous Directors’ responsibility statements that they have been prudent with the running of the business. This would have led the business to expend on audit fees, and led to more management time being taken up on such tasks
So, if your company year ends on or after 1st October 2013, we can help you save costs from moving away from the previous rigorous audit to still provide a full service of annual accounts preparation and completion of CT600 returns for HMRC. Please contact us for our competitive service offering.