Corporate Reporting - seeking views on cutting business paperwork

The proposals could bring meaningful changes for some businesses, including:

• Fewer reporting requirements: making obligations more proportionate to company size and ownership.
• More scope for exemptions: allowing some medium-sized companies to use reporting exemptions currently available to small companies, potentially alongside a new category of ‘very large companies’ facing additional requirements.
• Changes to audit rules: extending audit exemptions to certain medium-sized businesses.
• Simpler financial reporting: moving detailed requirements out of legislation and into accounting standards.
• More flexibility on sustainability disclosures: allowing certain information on environmental matters, employees, human rights and other social issues to be omitted where it is not financially material.
• A fresh look at energy and carbon reporting: including where sustainability information needs to appear.
• New expectations for very large companies: potentially including additional cyber-risk reporting.

Have your say by 15 November

We want to make sure the Government understands the real-world costs of corporate reporting for printing businesses — and where simplification would make the biggest difference.

Please send your views to Carys at hello@bossfederation.co.uk by 15 November. In particular, we’d welcome feedback on any of these issues:

1. The cost of compliance: How much time and money do you spend preparing statutory accounts and other company reports? Which requirements cause the biggest headaches?
2. Company size: Would additional exemptions materially reduce costs for medium-sized printing businesses?
3. Auditing: Would an audit exemption help, or could losing audited accounts make it harder to secure finance, credit insurance or favourable supplier terms?
4. Sustainability reporting: Which environmental disclosures feel disproportionate to the size or nature of your business?
5. Supply-chain transparency: Do customers, lenders or larger business partners rely on information in annual reports beyond the statutory minimum? Could fewer disclosures simply mean more requests for information elsewhere?
6. Digital reporting: Would digital-first reporting save time and money, or bring new software costs and administrative burdens?