401. Directors’ Report: Small Companies Exemption

Past version: effective from 29/04/2020 - 28/04/2020
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(1) A company is entitled to small companies exemption in relation to the directors’ report for a financial year if–
(a) it is entitled to prepare accounts for the year in accordance with the small companies regime, or
(b) it would be so entitled but for being or having been a member of an ineligible group.
(2) The exemption is relevant to–
section 402(1)(b) (contents of directors’ report: statement of amount recommended by way of dividend), and
sections 418 to 421 (filing obligations of different descriptions of company).