Companies House filing changes from 2028: The biggest Companies House filing changes in years?

From 1 April 2028, significant changes to company accounts filing requirements will come into force under the Economic Crime and Corporate Transparency Act 2023 (ECCTA). These changes were originally expected to take effect from April 2027, but the implementation date has now been pushed back by 12 months.

While the new rules apply to all companies, they are likely to be felt most keenly by small companies and micro-entities, many of which currently file only limited financial information at Companies House.

The reforms are intended to improve the quality and reliability of information held on the Companies House register, increase transparency and support efforts to tackle economic crime. Companies House has indicated that companies will be contacted via their registered email address and further guidance will be issued ahead of implementation.

What's changing?

A number of changes will affect the way companies prepare and file their annual accounts. The most significant changes for smaller companies are outlined below.

1. Profit and loss accounts must be filed
   For many small companies and micro-entities, the most noticeable change will be the requirement to file a profit and loss account at Companies House.
   Following feedback from businesses and professional bodies, companies will be able to opt out of having this information published on the public register. Where a company chooses not to publish the information, Companies House, HMRC and relevant law enforcement bodies will still have access to it. Details of how the opt-out process will operate have not yet been published.
2. Restrictions on changing year ends
   The number of occasions on which a company can shorten its accounting reference period will be restricted. The intention is to reduce repeated changes to accounting periods, although further guidance on the detailed operation of the new rules is still awaited.
3. Software-only filing
   From April 2028, all companies will be required to file accounts using commercial software. The existing Companies House web filing service and paper-based filing routes for accounts will be withdrawn. This requirement will apply whether accounts are filed directly by the company or through an accountant or other agent.
4. Stronger audit exemption declarations
   Companies claiming an audit exemption will be required to provide an enhanced statement confirming that they qualify for the exemption being claimed. This is intended to strengthen accountability and improve the accuracy of information filed at Companies House.
5. Abridged accounts will be removed
   The option for small companies to prepare and file abridged accounts will be withdrawn. Companies will instead be required to submit a fuller set of financial information as part of their annual accounts filing.

What should businesses do now?

Although implementation is still some way off, businesses should start thinking about the practical implications of the new rules. In particular, companies that currently rely on abbreviated filing options should consider what additional information may need to be prepared and filed in future.

Businesses should also ensure that they are ready for the move to software-only filing and keep an eye on further guidance as it is released by Companies House.

How Larking Gowen can help

The changes do not take effect until April 2028, but there is likely to be further guidance and secondary legislation before then. Understanding the direction of travel now will help businesses avoid surprises later.