Just Became Large Enough for SECR?
SECR Required?YES
Explanation
When you first meet 2 of 3 criteria (250+ employees, £36m+ turnover, £18m+ balance sheet), you become subject to SECR in that financial year.
Action Required
Begin SECR reporting for the financial year in which you qualified.
Future Planning
Annual reporting required going forward while thresholds are met.
Related Considerations
- First year has transition relief on comparatives
- Must maintain compliance as long as qualifying
- Cease reporting if you fall below thresholds for 2 consecutive years
Not Sure If You Qualify?
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