What's changine from April 1st 2027:
- Accounts must be filed digitally using software, meaning web and paper filing options for accounts will no longer be available from this date - Profit and loss accounts will be required for small and micro-entity companies and will be shown on the companies house website in public domain - Other changes are planned, including updates to audit exemptions and accounting reference periods but these have not been published in full yet. Updates are expected by December 2025 However you’ll still be able to use their online services to file other documents like confirmation statements and director updates as these are not affected by this change.
Why these changes are happening?
These changes are being introduced as part of a broader reform package under the Economic Crime and Corporate Transparency Act 2023.
The move to software filing is a critical step in improving the accuracy and quality of data on the register by reducing errors and formatting issues. It's also going to speed up processing times and help Companies House detect and prevent fraud more effectively.
For companies, this change will streamline the filing process and offer a more secure way to submit your accounts compared to paper filings. Making basic profit and loss information available on the register aims to improve conditions for accessing credit, including trade credit lending, as well as helping to provide confidence for those who want to do business with a company.
It will also reduce the risk of deliberate misuse of minimal disclosure options to hide money laundering and other fraudulent activity.
Head over to GOV.UK for more guidance and support throughout the transition.
If your worried about this transition and how it will effect you and your business get in touch with your accountant for advice on what software to use if you aren't already and how this process can be streamlined.
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