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WW Blog
Audit thresholds have changed: What the April 2025 update means for your business
As of 6 April 2025, the UK government has updated company size thresholds for statutory audits, increasing the limits for micro, small, and medium-sized businesses to reflect inflation and reduce reporting burdens. Companies now qualify based on meeting two of three criteria—turnover, balance sheet total, and average employees—with new thresholds set at £1 million turnover for micro, £15 million for small, and £54 million for medium-sized businesses. These changes mean some businesses may no longer require a statutory audit or certain reports, lowering compliance costs, while others that have grown may now be newly subject to audit requirements. Despite exemptions, many companies choose voluntary audits to enhance financial credibility, improve governance, and support strategic decision-making. Ward Williams’ Audit & Assurance team offers tailored audit services to help businesses understand and navigate these changes, ensuring compliance and turning financial reporting into a strategic advantage. For guidance on how the new thresholds affect your business or to explore audit options, Ward Williams invites you to contact their experts for trusted, independent advice.
Understanding ATED: What Property Businesses Need to Know
If your company or partnership owns UK residential property valued at £500,000 or more, the Annual Tax on Enveloped Dwellings (ATED) may apply. The filing deadline of 30 April is fast approaching and it’s crucial to act now. Our latest Ward Williams article explains who is affected, the latest charges, what reliefs or exemptions may be available, and how to stay compliant. Our Corporate Tax team shares insights and real examples to help you meet the deadline and minimise your liability.
COMPANY NEWS Strengthening Our Audit Team: Celebrating Izabela’s Audit RI Achievement
We are thrilled to announce that our Head of Audit, Izabela Kuchmacz, has been awarded audit Responsible Individual (RI) status by the Institute of Chartered Accountants in England and Wales (ICAEW). This prestigious recognition highlights Izabela's exceptional expertise and commitment to maintaining the highest standards in audit practices.