Do not require publication of full accounts for small/micro businesses

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Do not require publication of full accounts for small/micro businesses

Petition Details

We believe the option to file abridged accounts should continue to be available to small/micro entities.

When a company is small/micro we believe there is no benefit to commercially sensitive information, such as the profit and loss account, to be made public.

Additional Information

The proposed changes to UK Company Law could mean:

- Small businesses will struggle to obtain credit to grow
- Small businesses will have less power in tender processes
- Employees will be able to make assumptions about their pay
- Customers bullying small businesses into cheaper rates/favourable payment terms knowing their business is a substantial % of their revenue
- That for a sole director company this will be akin to having their payslips available for anyone to look up

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