Companies House Accounts Filing Changes Delayed Until April 2028

The government has confirmed that significant changes to Companies House accounts filing requirements will now come into effect from April 2028, giving businesses an additional year to prepare.

The reforms form part of the Economic Crime and Corporate Transparency Act 2023, which aims to improve the accuracy, transparency and integrity of information held on the Companies House register.

What Will Change?

One of the biggest changes will affect small companies and micro-entities.

From April 2028, these businesses will be required to file a profit and loss account with Companies House, bringing them into line with larger companies.

However, to help protect commercially sensitive information, businesses will have the option to keep their profit and loss account off the public register, reducing the risk of competitors accessing detailed financial information.

Mandatory Software Filing

Another major change is the move to software-only accounts filing.

From April 2028, all UK-registered companies will be required to submit their annual accounts in Inline eXtensible Business Reporting Language (iXBRL) format using approved commercial software.

This requirement will apply whether accounts are filed directly by the company or through an accountant or third-party agent.

As part of the transition:

• Paper accounts filing will no longer be available.

• Companies House's web-based accounts filing service will also be withdrawn.

• All accounts must be submitted electronically using compatible software.
  

Other Key Reforms

The legislation will also introduce several additional changes, including:

• The removal of the option to file abridged accounts.

• Tighter restrictions on shortening a company's accounting reference period.

• Stronger eligibility statements for companies claiming an audit exemption.

• A requirement for all parts of the annual accounts and reports to be submitted together as a single filing.
  

These measures are intended to improve the quality and consistency of information held by Companies House while helping to combat fraud and economic crime.

What Should Businesses Do Now?

Although the new rules won't take effect until April 2028, businesses should use the additional preparation time wisely.

If you currently prepare and file your own accounts, you'll need to ensure you have suitable software that supports iXBRL filing. Businesses using an accountant should also discuss how the changes may affect their filing process and future compliance costs.

Companies House will contact businesses using their registered email address as further guidance becomes available.

We're Here to Help

The move to digital accounts filing is another step towards a more technology-driven compliance system for UK businesses.

At SJC, Chartered Accountants, we'll continue to monitor the changes and support our clients through the transition. Whether you need advice on software, statutory accounts or Companies House compliance, our experienced team is here to help.

If you'd like to discuss how these changes could affect your business, contact SJC, Chartered Accountants today.