DBT proposes to simplify reporting for medium-sized companies
18 May, 2024
The Department for Business and Trade (DBT) has issued a consultation which proposes simpler reporting for medium-sized companies in the UK.
In March 2024, the DBT published a summary of responses to its non-financial reporting review call for evidence, and also an impact assessment which set out the first stage of planned measures to reform the UK non-financial reporting framework. At that time, the government also committed to consulting later in the year on further proposals to reduce the reporting burden on medium-sized companies.
This consultation marks the next phase of the government’s non-financial reporting review and concentrates on medium-sized companies. This is a limited consultation with two proposals to:
- exempt medium-sized companies from producing a Strategic Report; and
- uplift the medium-sized companies employee threshold from 250 up to 500 employees.
Comments on the consultation are requested by 27 June 2024.
The full consultation is available on the government website.
