Red tape slashed for thousands of UK businesses

Thousands of UK businesses are to be freed as government simplify regulations and reporting requirements.

The UK government are slashing red tape for small business owners - an estimate of 40,000 in total - by categorising more businesses as 'small businesses' from Monday 3rd October 2022.

The threshold for the changes is being raised from firms with less than 50 employees to those with 500 or under.

Many businesses who were previously classed as 'medium-sized' (between 50 to 249 employees') told the Government that they were spending an average of over 22 staff days per month dealing with regulation, and over half considered regulation a burden.

Workers rights and other standards will remain protected upon the new changes.