The long-awaited update on Companies House filing reforms has now been confirmed, bringing clarity on both timing and scope for UK businesses.
Following extensive consultation and industry feedback, the government has set out how these changes, introduced under the Economic Crime and Corporate Transparency Act 2023, will be implemented.
The full announcement can be read here.
Key changes at a glance
- Delayed Implementation – Now April 2028
The reforms will now take effect from April 2028, pushed back from the previously proposed April 2027 start date. This gives businesses additional time to prepare, equating to one full accounting year plus a further nine months to ensure compliance.
- Profit and loss filing required for small and micro companies
For the first time, small companies and micro-entities will be required to file a profit and loss account with Companies House. This represents a significant shift, aligning smaller businesses with the reporting requirements already in place for larger entities. However, crucially, there is an option to keep profit and loss private. This is a notable and welcome development which will allow small and micro businesses to opt out of having their profit and loss accounts published on the public register.
This change follows strong feedback from the business community, addressing concerns around commercial sensitivity, competitive disadvantage and financial privacy for smaller businesses.
While the accounts will still need to be filed, access will be limited to regulators such as Companies House, HMRC and the police, supporting efforts to tackle economic crime.
Further detail on how the opt-out will work is expected in due course.
- Mandatory digital filing for all companies
All companies, regardless of size, will be required to file accounts using commercial software, with digital tagging (iXBRL format).
As part of this shift paper filing will be withdrawn and Companies House web-based accounts filing will be closed. This marks a decisive move towards a fully digital filings environment and improved data quality.
Additional changes to be aware of
Alongside the headline updates, the reforms will also:
- Remove the option to file abridged accounts
- Require accounts to be filed as a complete package
- Strengthen audit exemption statements
- Reduce flexibility for changing accounting periods
Taken together, these measures aim to improve the accuracy, transparency and reliability of information on the Companies House register.
What this means for your business
These reforms represent one of the most significant overhauls of UK accounts filing in recent years.
While the move to greater transparency is clear, the government has attempted to strike a balance by protecting small business privacy where it matters most.
Actions to consider now:
- Review your current accounts preparation and filing process
- Ensure you are using (or planning to adopt) compliant commercial software
- Understand how the new profit and loss filing requirement may impact your business
- Keep an eye on further guidance around opting out of publication
Get in touch
The changes signal a continued move towards greater digitalisation, enhanced transparency and tighter compliance requirements for UK businesses. However, the delayed implementation and the option to opt out of publishing profit and loss accounts will be welcomed by smaller companies, providing additional time and flexibility to prepare.
We recommend that businesses start considering the impact now to ensure a smooth transition ahead of April 2028, particularly where systems, processes or software may need to be updated.
If you would like support understanding what these changes mean for your business, or guidance on putting the right systems in place, please get in touch using the button below.
