Operating as an EEA company and group with a presence in the UK
Intermediate UK parent companies with an immediate EEA parent may not be exempt from producing group accounts from January 2021. Find out if you need to prepare group accounts and file them with Companies House.
UK registered dormant companies with EEA parents will need to file individual annual accounts with Companies House for accounting periods beginning in January 2021.
EEA companies with a UK incorporated subsidiary will not be eligible for certain exemptions from preparing and filing accounts from 1 January 2021.
Exemption from producing non-financial information statements and alteration of accounting reference dates will be removed for financial periods from 1 January 2021.
Operating as an EEA public company with UK listing
EU incorporated groups that issue debt or any other securities, which are admitted to trading on a UK market, can continue to use accounts prepared using EU-adopted international accounting standards (IAS) under the UK Transparency Directive (TD) and Prospectus Directive (PD).
Auditing EEA companies that issue securities that are admitted to trading on a UK regulated market
Make sure your EEA auditor is registered as either a:
- statutory auditor in the UK
- third country auditor on the register maintained by the Financial Reporting Council (FRC)
This will apply for all accounting years beginning on or after 1 January 2021.
EEA companies audited by UK auditors and firms that are also registered in EEA countries
UK auditors’ and audit firms’ existing registrations as EEA auditors and audit firms may not be valid from 1 January 2021. How registrations are recognised after the end of the Transition Period may be agreed as part of the future relationship with the EU.
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