UK Company Accounts Filing Changes from 2028

UK Company Account requirements. Financial Accounts. No Abridged Accounts.

Following engagement with Stakeholders, the Economic Crime and Corporate Transparency Act 2023 reforms for company account filing are delayed to April 2028.  This includes mandatory iXBRL format, eliminated abridged accounts and strengthened audit exemptions.  The key changes include required profit and loss filing for small companies and micro-entities (with an opt-out for public disclosure), restricted accounting period changes and all component parts of the filed accounts and reports must be filed together

What’s the new Deadline?

Small businesses and micro-entities must file profit and loss (P&L) accounts starting April 2028.

Delayed Rollout:

The implementation date for the reforms has been moved from April 2027 to April 2028.  This timeline grants companies an additional year to prepare for the updated Companies House mandates.

What’s the Impact?

These changes will transform both the data companies must disclose and how they submit annual accounts.

What are the specific changes to accounts preparation and filing?

1. Digital Filing Only: Software filing becomes mandatory. Paper and manual web options close. Web services remain only for non-account filings.

2. No Abridged Accounts: Companies must provide full financial details.

3. Component parts of filed accounts and reports must be filed together: All financial accounts and reports must be uploaded together.

4. Strict Period Rules: Limits on shortening accounting reference periods.

5. Other Technical Changes:  A strengthened eligibility Statement is required by companies claiming audit exemption.

To review the news story “Companies House to bring in changes to accounts filing from April 2028,” please click: https://www.gov.uk/government/news/companies-house-to-bring-in-changes-to-accounts-filing-from-april-2028

As the implementation timetable has been moved, companies now have considerable time to prepare for the changes.

For all your UK tax advisory and compliance requirements including help preparing and filing your Tax Returns, please contact us at queries@accountsadvicecentre.ie

Please be aware that the information contained in this article is of a general nature.  It is not intended to address specific circumstances in relation to any individual or entity. All reasonable efforts have been made by Accounts Advice Centre to provide accurate and up-to-date information, however, there can be no guarantee that such information is accurate on the date it is received or that it will continue to remain so. This information should not be acted upon without full and comprehensive, specialist professional tax advice.