Companies House to bring in changes to accounts filing from 1 April 2028

The planned changes to company accounts filing under the Economic Crime and Corporate Transparency Act 2023 have now been confirmed, but have been pushed back by a year, giving businesses more time to prepare.  The changes will now come into effect from 1 April 2028 rather than 1 April 2027.

Key changes include:

• Small companies and micro-entities will be required to file profit and loss accounts with Companies House (with the option to opt out of publication on the public register – further details are to follow from Companies House).
• Annual accounts must be filed using commercial software in iXBRL format.
• Paper and web-based accounts filing will be withdrawn.
• Abridged accounts will no longer be permitted.
• Audit exemption requirements will be strengthened.
• Restrictions on shortening accounting reference periods will be tightened, although no further details have been released on this yet.

While the delay provides additional preparation time, businesses should start reviewing their current accounts preparation and filing processes now to ensure they are ready for the move to software-only filing from April 2028.

If you have any questions or would like more information, please do not hesitate to get in touch at enquiries@teamjs.co.uk.