Companies House filing changes due from April 2028 will affect micro-entities and small companies across the UK.
Under the new rules, these companies will have to file a profit and loss account with Companies House. They will also need to use commercial software to submit their annual accounts.
The reforms were originally expected to take effect from April 2027. However, following concerns raised by stakeholders, the government has delayed implementation until April 2028.
Profit and loss accounts will become compulsory
From April 2028, both micro-entities and small companies will have to file a profit and loss account with Companies House.
Companies will, however, be able to choose whether this information is published on the public register.
The details of how this opt-out process will work have not yet been confirmed.
Even where a company chooses not to publish its profit and loss account, HMRC and law enforcement agencies will still be able to access the information. This is intended to support work to identify fraud and tax evasion.
Software filing will be required
All companies will also have to file their annual accounts using commercial software.
This already applies to accounts submitted to HMRC. Under the new Companies House filing changes, the existing web-based and paper filing routes will close.
Companies should therefore check whether their current accounting software will support both HMRC and Companies House filing requirements.
Abridged accounts will be removed
The option to prepare and file abridged accounts will also be withdrawn from April 2028.
This means small companies will no longer be able to use the current abridged accounts format when submitting their accounts.
Restrictions on changing accounting periods
The government will also limit how often a company can shorten its accounting reference period.
At present, there is no restriction on the number of times a company can do this. Further details on the new limits are expected before the changes take effect.
Preparing for the changes
Companies House will contact businesses through their registered email address with further information about the reforms.
Although the new requirements do not take effect until April 2028, companies may wish to review their filing arrangements in advance. In particular, it is worth checking that the software they use will support the new Companies House requirements.
The government’s report explaining the Companies House filing changes from April 2028 is available here.