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Small exempt companies.
Thread poster: Williamson

Williamson  Identity Verified
United Kingdom
Local time: 20:45
Flemish to English
+ ...
Dec 13, 2006

In the British context, what are small exempt companies and what advantages does being exempt have?
I know that I will find more information about exempt companies on Companies House website, but would appreciate if somebody could give an answer to that question in plain English.


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RobinB  Identity Verified
Germany
Local time: 21:45
German to English
?? Dec 13, 2006

I don't think that "small exempt companies" is a concept in UK law. The term "exempt companies" by itself normally applies to audit and disclosure requirements for SMEs (which are ultimately governed by European directives), but I think it would be helpful if you were to give the source for your "small exempt companies".

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Williamson  Identity Verified
United Kingdom
Local time: 20:45
Flemish to English
+ ...
TOPIC STARTER
Total exemption, small Dec 13, 2006

From the website of Comanpanies house:
(example of a translation agency)
Company Type: Private Limited Company
Nature of Business (SIC(03)):
7485 - Secretarial and translation services

Accounting Reference Date:
Last Accounts Made Up To: (TOTAL EXEMPTION SMALL)
Next Accounts Due:
--
Total exemption, small?
---------
Link:

http://www.companieshouse.gov.uk/about/gbhtml/gbllp2.shtml#3.3



[Edited at 2006-12-13 13:41]


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Gillian Searl  Identity Verified
United Kingdom
Local time: 20:45
Member (2004)
German to English
This talks about exemption from auditing accounts Dec 13, 2006

http://www.companieshouse.gov.uk/about/gbhtml/gbllp2.shtml#3.4

Normally private limited companies haveto audit their accounts but are exempt if considered "small" as defined here.
Gillian


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