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Charles Stuart LLP
OC304424 Reg Office:
36 Bath Road, Hounslow TW3 3EF
Offices in Hounslow and Datchet , 020 8577 1000 and 01753 580444

value@csuk.com

What's New?: Be sure to keep up-to-date with what�s happening and what�s new. Check out this section regularly for latest changes in legislation which may affect your business.

For further information please contact one of our principals:

Linda Penny - lpenny@csuk.com

Bob Johnson - bjohnson@csuk.com

Amanda Magagnin - amagagnin@csuk.com

New audit exemption thresholds for accounting periods beginning after 6 April 2008

For financial years starting on or after 6 April 2008, to qualify for total audit exemption, a company must:

qualify as small
have a turnover of not more than �6.5m
have a balance sheet total of not more than �3.26m

If the company is a member of a group and the turnover of the whole group exceeds �6.5m and the group's combined balance sheet total is more than �3.26m an audit will be required. This also applies to small UK companies that have an overseas parent.