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.
Audit thresholds have changed: What the April 2025 update means for your business
Ward Williams was much more sympathetic to my circumstances. There was much more opportunity for me to ask for help when needed, and there was far less jargon in the information that they sent me.
Clare Francis - Probate Client
Probate can be a very detailed procedure, as I knew from personal experience. But Ward Williams made the whole thing less daunting. They were very reassuring and clear about everything. Keeping us informed and letting us know we could ask for advice whenever we wanted.
Sam Crossby - Probate Client
When taking on my fathers probate, the solicitor didn't explain that there were a number of things we could have done ourselves; in contrast, Ward Williams were clear from the start about the different options available to us and the associated costs of these options.
Clare Francis - Probate Client
We felt we were always able to ask questions that we had or pop in for a meeting. We felt well looked after all the way through and it was very comforting to know that we had a professional firm to take the anxiety out of the process for us.
Sam Crossby - Probate Client
The relationship in dealing with my parents tax has come to an end but the fact we are going to ask them to handle the trust speaks volumes about how we feel they dealt with the probate.
Clare Francis - Probate Client
Ward Williams simply told us that they could provide the service, explaining what they could do if we wanted them to. Their approach was far more human, and much more appropriate to the circumstances.
Sam Crossby - Probate Client
Personal relationships count for a lot in these circumstances and our relationship with Ward Williams is excellent.
Clare Francis - Probate Client
Ward Williams were financial advisers to both parents and after my father died they continued to look after my mother's financial affairs. Because of that good understanding we felt they would be best placed to provide the expertise needed to see probate through and would handle everything in-house. The long-term relationship meant that we already had a high level of trust in them.
Sam Crossby - Probate Client