Companies House Announces Major Changes to Accounts Filing – What You Need to Know

Companies House has confirmed a series of changes to how UK companies prepare and file their annual accounts, with the reforms now expected to take effect from April 2028. These changes form part of wider efforts to improve transparency, data quality and tackle economic crime, but they will also have practical implications for businesses of all sizes.

Key changes

The main updates include:

• Profit & Loss (P&L) reporting for all companies
  Small companies and micro-entities will be required to file a P&L account with Companies House. However, importantly, they will still have the option to opt out of making this publicly visible.

• Mandatory software filing
  All companies will need to file accounts using commercial software in iXBRL format. Paper and web-based accounts filing will be withdrawn.

• Removal of abridged accounts
  The option to file abridged accounts will be removed.

• Changes to audit exemption statements
  Companies claiming audit exemption will need to provide a more robust eligibility statement.

• Filings to be made together
  Accounts with component reports will need to be submitted as a complete package, rather than in separate parts.

• Tighter rules on accounting period changes
  The number of times a company can shorten its accounting reference period will be reduced.

What this means for you

For many of our clients, the most significant concern will be P&L disclosure. The good news is that you are likely to be able to opt out of public disclosure, while still complying with the new filing requirements.

All of our annual accounts for companies are prepared on software compliant with the new rules, so there will be no change from that perspective.

Finally, restrictions on shortening accounting periods may impact companies that have previously relied on this flexibility to manage filing deadlines.

Next steps

Although these changes don’t come into force until 2028, it is sensible to start preparing early. We will continue to keep you updated and are happy to advise on how these changes may affect your business.