Do you run a limited company? Here’s an important update for you …
The planned overhaul of Companies House accounts filing has officially been postponed by a year, giving businesses until 1 April 2028. This delay aims to give everyone involved more time to prepare.
It’s great to have this breathing space, but remember … the reforms are still coming. Taking the opportunity to understand what’s changing now saves time, stress and disruption later.
Why are accounts filing rules changing?
The new way of working is part of the Economic Crime and Corporate Transparency Act 2023. Its purpose is to make the Companies House register more accurate, transparent and harder to misuse for fraud and other financial crime.
The change means companies will need to provide more consistent financial information and use fully digital filing methods.
What will change from April 2028?
When Companies House’s new requirements take effect, most limited companies can expect several important changes, including:
Software-only filing – annual accounts must be submitted using compatible commercial software. Paper and Companies House web filing for accounts will no longer be available.- More detailed accounts – small companies and micro-entities will need to file a profit and loss account with Companies House.
- No more abridged accounts – the option to submit abridged accounts will be removed.
- More detailed audit exemption declarations – companies claiming an audit exemption will need to provide additional confirmation that they qualify.
- Single filing submission – all parts of the annual accounts must be submitted together rather than separately.
- Tighter rules on accounting reference dates – there will be greater restrictions on how often companies can shorten their accounting period.
Following consultation about the changes, small companies and micro-entities will be able to opt out of having their profit and loss account published on the public register. Details of how to do this have not yet been published. Companies House, HMRC and law enforcement will still have access where required. (Note: this impacts companies with turnover of up to £1 million and £15 million respectively, subject to balance sheet and employee limits.)
Get ready before the deadline
‘Although the start date has moved, the reforms themselves have not gone away,’ says Emily Bridges, founder of re:accounts Chartered Accountants in Stevenage. ‘Your company will need to meet stricter filing requirements and submit more digital filing. You’ll also have less flexibility over what can be left out of accounts submitted to Companies House. It’s best to prepare for the changes now, avoiding last-minute pressure.’
If you’d like to discuss how the Companies House reforms could affect your business, contact our friendly accounts experts for an initial conversation without judgement or jargon. Let’s make sure you’re prepared before the April 2028 deadline arrives.
