by Steffen Kemmerzehl – The Accounting Hub
The government has now confirmed that significant Companies House accounts filing reforms will take effect from 1 April 2028, following the implementation of measures contained within the Economic Crime and Corporate Transparency (ECCT) Act 2023.
While many business owners were expecting these changes to arrive in 2027, the implementation date has now been pushed back by one year, giving companies additional time to prepare.
Many directors have heard concerns that small companies will soon be forced to publish detailed profit and loss figures. The latest announcement provides greater clarity. While small companies and micro-entities will be required to file profit and loss information with Companies House from April 2028, the government has confirmed that businesses will be able to opt out of public publication. This means the information will still be available to Companies House, HMRC and relevant authorities while helping protect commercially sensitive information from public view.
For most small limited companies, the biggest changes will be the requirement to file profit and loss information and the move to software-only accounts filing. These reforms also sit alongside wider digital compliance initiatives such as our guide to Making Tax Digital Explained: What UK Businesses Must Know, which is already changing how many businesses keep records and submit information to HMRC.
What Is Changing?
From 1 April 2028, Companies House will introduce several reforms designed to improve transparency, reduce economic crime and modernise company reporting.
Key changes include:
- Small companies and micro-entities will be required to file a profit and loss account with Companies House.
- All companies will need to file accounts using approved commercial software.
- The existing Companies House web filing route for accounts will be withdrawn.
- Certain simplified filing options will be removed as part of wider reporting reforms.
Businesses that still rely on spreadsheets or manual filing processes may wish to review their systems well before 2028. As discussed in our article AI bookkeeping is only as strong as the habits behind it, good record keeping remains the foundation of accurate accounts and tax compliance regardless of the software used.
Will My Profit and Loss Account Become Public?
This was one of the most controversial aspects of the proposed reforms.
The government has now confirmed that small companies and micro-entities will be able to opt out of having their profit and loss account published on the public register.
This means that while Companies House, HMRC and law enforcement agencies will still receive the information, businesses should be able to keep detailed revenue and profit figures hidden from competitors and the general public.
The exact opt-out process has not yet been published and further guidance is expected before implementation.
The announcement provides welcome reassurance for small business owners who were concerned about commercially sensitive information becoming publicly visible. This is particularly relevant for owner-managed businesses, contractors and freelancers, including those affected by rules discussed in our guide to IR35 Explained for UK Contractors.
End of Companies House Web Filing
Another major change is the removal of the Companies House accounts web filing service.
From April 2028:
- Accounts will need to be submitted through commercial software.
- Paper accounts filing routes will also close.
- Businesses currently preparing and filing accounts manually should begin considering software-based filing well before the deadline.
For clients already using an accountant or cloud accounting software, the practical impact may be limited.
Directors should also be aware that Companies House reforms extend beyond accounts filing. Identity verification requirements are being introduced as part of the same programme of reforms. You can learn more in our guide to Companies House Identity Verification Help – ACSP Service.
Why Are These Changes Being Introduced?
The reforms form part of the government’s wider strategy to strengthen the integrity of the UK corporate register.
The ECCT Act gives Companies House greater powers to:
- Verify identities.
- Improve data quality.
- Detect suspicious activity.
- Reduce misuse of UK companies for fraud and financial crime.
The accounts filing reforms are intended to support these wider objectives.
These measures form part of a broader effort to improve transparency, strengthen corporate governance and reduce economic crime. Businesses operating internationally may also wish to review International Tax Rules Are Changing. What UK Businesses Need to Know, as governments worldwide continue to increase reporting and compliance requirements.
What Should Business Owners Do Now?
Although the changes do not take effect until April 2028, businesses should not ignore them.
Over the next two years, company directors should:
- Ensure accounting records are accurate and complete.
- Move away from manual filing processes where possible.
- Review whether their current software supports Companies House filing and future HMRC requirements under Making Tax Digital.
- Confirm that company authentication details are accessible and up to date.
- Speak to their accountant if they are unsure how the changes affect them.
Businesses that are unsure whether their accounting systems remain suitable should consider seeking professional advice before the reforms take effect.
What About Corporation Tax?
Although these reforms primarily affect Companies House filings, the same accounting records are also used when preparing corporation tax returns.
Our Corporation Tax Services for UK & International Companies page explains how we help businesses prepare accounts, submit corporation tax returns and meet both Companies House and HMRC requirements.
Companies with overseas customers, overseas suppliers or international shareholders may also find our Accounting and Tax Support for UK and International Clients and International & Expat Accounting Services UK pages useful.
Frequently Asked Question
Will competitors be able to see my profit and loss account?
The government has confirmed that small companies and micro-entities will be required to file profit and loss information with Companies House from April 2028.
However, it has also confirmed that smaller businesses will be able to opt out of having those profit and loss accounts published on the public register. The detailed process has not yet been released.
This means that Companies House, HMRC and relevant authorities will still receive the information, but businesses should be able to prevent detailed profit and turnover figures becoming publicly accessible.
Need Help Preparing for the Companies House Changes?
Friendly Assist Accountancy supports limited companies across the UK with accounts preparation, corporation tax, Companies House compliance and digital accounting requirements.
Whether you are preparing for the upcoming filing reforms, need help with Corporation Tax Services for UK & International Companies, require assistance with Self Assessment Tax Return Help UK, or want advice on Making Tax Digital compliance, we are here to help.
We also assist businesses facing HMRC penalties, late filing issues and compliance concerns through our HMRC Penalty Help and Late Tax Return Support service.
Visit our Get in Touch page for a no-obligation discussion about your business and upcoming compliance requirements.
Need Help Preparing for the New Companies House Rules?
The 2028 deadline may seem distant, but now is the ideal time to review your accounting processes, software and compliance procedures.
At Friendly Assist Accountancy, we help limited companies stay compliant with Companies House and HMRC requirements through practical, straightforward advice and support. Whether you need help with annual accounts, corporation tax, Making Tax Digital, Companies House identity verification or general business compliance, we’re here to help.
If you’re unsure how these changes will affect your business, or want to make sure you’re prepared well before the deadline, get in touch today for a friendly, no-obligation discussion.
Contact Friendly Assist Accountancy today and take the stress out of changing compliance requirements.
Final Thoughts
The postponement to April 2028 provides welcome breathing space, but the direction of travel is now clear.
Mandatory software filing is coming, Companies House will receive profit and loss information from small companies, and the UK’s company reporting framework is becoming increasingly digital.
Businesses that prepare early are likely to experience the smoothest transition when the new rules take effect.