The new Micro-entity regime

Micro-entities have optionally been able to apply a significantly reduced reporting regime since 2013 when the new regulations were incorporated into both the 2008 and 2015 versions of the FRSSE.

FRS 105 was published in July 2015 as the new standalone accounting and reporting standard for micro-entities for periods beginning on or after 1 January 2016, replacing the FRSSE 2015 from that date.

This Bulletin aims to provide detailed overview of the requirements of FRS 105, highlighting the key simplifications compared to FRS 102 and section 1A.

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TR 170-15 The New Micro-Entity Regime