The European Commission to simplify the business environment... (3/3)
Extended exemptions for certain medium-sized companies
With the accounting environment currently buzzing with talk of deregulation, the new Companies Act 2006 and lower compliance costs, the European Commission have also joined the band-wagon.
In their recently published documentation, the European Commission propose that companies who are…
• owned by management (provided no other owners with >5%) or
• unlimited liability companies
…follow the regime for small companies!
This deregulation in owner-managed enterprises, is quite similar to recent announcements relating to the Companies Act 2006. The similarities in business initiatives between the UK and Europe (and indeed Worldwide) is becoming more and more apparent.
With the accounting environment currently buzzing with talk of deregulation, the new Companies Act 2006 and lower compliance costs, the European Commission have also joined the band-wagon.
In their recently published documentation, the European Commission propose that companies who are…
• owned by management (provided no other owners with >5%) or
• unlimited liability companies
…follow the regime for small companies!
This deregulation in owner-managed enterprises, is quite similar to recent announcements relating to the Companies Act 2006. The similarities in business initiatives between the UK and Europe (and indeed Worldwide) is becoming more and more apparent.
