Key takeaways from the Chancellor’s Spring Statement
October last year marked the first Labour budget in over a decade – and as expected, it held a large number of changes that affected individuals and businesses in unequal measure. As a ‘halfway point’ designed to give the Chancellor an opportunity to outline progress...
2025 Triennial Review: What SMEs Need to Know About Lease Accounting Changes
Last month we reported on a series of changes announced to the Financial Reporting Standard 102 – known as the 2025 Triennial Review. One of the major impacts on many small businesses will be changes to lease accounting. This will directly affect how SMEs accounts are...
The 2025 Triennial Review: Key Changes to FRS 102 and What They Mean for you
The Financial Reporting Standard 102 (FRS 102) is the principal accounting standard for small and medium-sized enterprises (SMEs) in the UK and the Republic of Ireland. Since its introduction in 2015, FRS 102 has provided a simpler alternative to International...
Changes to UK company size thresholds – what you need to know
In the UK, company size thresholds dictate various statutory requirements, such as financial reporting and audit obligations. These thresholds have remained unchanged since January 2016. It was proposed in March that these thresholds be reviewed as part of the...Watch out! HMRC scams increase
During lockdown there has been an increase in fraudsters carrying out sophisticated scams Find out more about the scans and how to spot them.