UPDATE: Companies House accounts filing reforms delayed until 2028: What businesses should do now
Companies should be aware of further changes being introduced as part of the Companies House reform programme, with significant updates to annual accounts filing requirements now scheduled to take effect from 1 April 2028.
The reforms form part of the wider transformation of Companies House, designed to improve corporate transparency, strengthen confidence in the UK business environment and increase the quality of information held on the public register.
While many business owners will already be familiar with the new identity verification requirements being introduced for directors and People with Significant Control (PSCs), the latest announcement focuses on how companies prepare and file their annual accounts.
Originally expected to take effect from April 2027, implementation has now been delayed until April 2028, providing businesses with additional time to prepare.
Another step in the Companies House reform programme
Over the past year, much of the attention surrounding Companies House reforms has focused on identity verification and enhanced transparency requirements.
However, the reforms extend beyond individuals and will also change how companies submit financial information.
The latest changes are designed to create a more consistent and fully digital filing environment, while improving the reliability and completeness of information available to regulators, lenders, suppliers and other stakeholders.
For many companies, particularly smaller businesses, these changes may represent the biggest shift in annual accounts filing requirements for many years.
What is changing?
From 1 April 2028, Companies House intends to introduce a number of significant reforms, including:
- Requiring small companies and micro entities to file profit and loss accounts with Companies House
- Requiring all companies to file annual accounts using commercial software in iXBRL format
- Removing the option to file abridged accounts
- Introducing a strengthened eligibility statement for companies claiming audit exemption
- Requiring all component parts of annual accounts and reports to be filed together
- Restricting the number of times a company can shorten its accounting reference period
Collectively, these changes are intended to improve transparency and increase the consistency of financial reporting across the UK corporate sector.
What does this mean for small and micro companies?
One of the most significant changes is the requirement for small companies and micro entities to file profit and loss accounts with Companies House.
Historically, many smaller businesses have been able to file reduced financial information, meaning relatively little detail appeared on the public register.
Under the new rules, additional financial information will need to be submitted as part of the annual filing process.
The government has confirmed that small companies and micro entities will have the option to opt out of publishing their profit and loss information on the public register. However, details of how this will work are still expected.
For many business owners, understanding what information will be filed, what information will remain private and how this may affect commercial confidentiality will be a key area of interest over the coming months.
A move towards fully digital filing
Another important aspect of the reforms is the move towards mandatory software filing.
All companies will be required to file annual accounts using commercial software and in iXBRL format.
For businesses already working with accountants or using cloud accounting software, the transition is likely to be relatively straightforward.
However, companies that continue to rely on older filing methods or manual processes may need to review their approach ahead of implementation.
The changes mirror the broader direction of travel across the tax and compliance landscape, where digital reporting and software-based submissions are becoming the norm.
Businesses already preparing for Making Tax Digital may recognise similar themes.
Why has the implementation date changed?
Following extensive engagement with stakeholders, Companies House has announced that the reforms will now be introduced from 1 April 2028 rather than 1 April 2027.
The delay provides companies with additional time to prepare and adapt to the new requirements.
In practice, businesses will have:
- One full accounting year
- Plus nine months following the year end
giving approximately 21 months to prepare before the new rules become mandatory.
For most businesses, this should provide sufficient time to understand the changes and ensure systems and processes are aligned.
What should businesses be doing now?
Although implementation remains some time away, businesses should use the additional preparation period to understand how the reforms may affect them.
This may include:
- Reviewing how annual accounts are currently prepared and filed
- Confirming whether existing software will meet future requirements
- Understanding what additional information may need to be submitted
- Reviewing audit exemption claims where applicable
- Monitoring further guidance from Companies House
For many businesses, the changes may be largely administrative. However, for companies with more complex structures, historic filing arrangements or concerns around disclosure of financial information, early planning may be beneficial.
At Ward Williams, we are helping clients understand how Companies House reforms fit within the wider compliance landscape and what practical steps may be required ahead of implementation.
Frequently asked questions
When do the new rules take effect?
The reforms are now expected to come into force from 1 April 2028.
Why has the implementation been delayed?
Companies House has postponed implementation following consultation with stakeholders, providing businesses with additional time to prepare.
Will all companies be affected?
Most companies will be affected in some way, particularly through the move to mandatory software filing.
Will small companies need to file profit and loss accounts?
Yes. Small companies and micro entities will be required to file profit and loss accounts with Companies House.
Will my profit and loss account be publicly available?
The government has confirmed that companies will be able to opt out of publication of profit and loss information, although further details are still expected.
Can companies still file abridged accounts?
No. The option to file abridged accounts is expected to be removed.
What is iXBRL?
iXBRL is a digital reporting format used for financial information and is already widely used for tax and accounts submissions.
Do I need to take action now?
For most businesses, immediate action is unlikely to be necessary. However, understanding the reforms early will help ensure a smoother transition.
The Companies House reform programme continues to reshape how businesses interact with the UK corporate register.
While the latest filing changes remain some way off, they represent another step towards a more transparent, digital and regulated filing environment.
If you would like to understand how these changes may affect your business, please get in touch. Call 01932 830664, email enquiries@wardwilliams.co.uk or visit www.wardwilliams.co.uk to speak with a member of the team.
Related insight
Companies House identity verification: New requirements for directors and business owners
Alongside these filing reforms, Companies House is also introducing identity verification requirements for directors, People with Significant Control (PSCs) and individuals filing information on behalf of companies. Read our related article to understand what these changes mean and how they fit into the wider Companies House reform programme.
Link to article: https://www.wardwilliams.co.uk/news/posts/2026/april/companies-house-identity-verification-new-requirements-for-directors-and-business-owners/
