What the New Companies House Rules Mean for Your Business
If you run a limited company, there are some important changes on the horizon that you should be aware of. From April 2028, Companies House will introduce new accounts filing requirements as part of the Economic Crime and Corporate Transparency Act (ECCTA).
Although 2028 may seem a long way off, these changes will affect how companies prepare and file their annual accounts. Taking the time to understand what’s changing now will help ensure your business remains compliant and avoids any last-minute stress.
In this guide, we’ll explain what the changes are, why they’re being introduced and what steps you can take to prepare.
Why Are Companies House Introducing These Changes?
The reforms form part of the government’s wider plans to improve transparency and reduce economic crime across the UK.
Companies House has been given greater powers to verify information, question inaccurate filings and ensure the information on the public register is more reliable.
The aim is to make the register more trustworthy for businesses, lenders, investors and the public while helping to tackle fraud and improve corporate transparency.
What Will Change in April 2028?
Digital Filing Will Become Mandatory
One of the biggest changes is that companies will no longer be able to file accounts using paper forms or the existing Companies House online filing service.
Instead, all annual accounts will need to be submitted using compatible commercial software.
Many businesses already use cloud accounting software, so for them the transition may be straightforward. However, businesses still relying on manual processes or spreadsheets may need to update their systems well before the deadline.
Small Companies Will Need to File More Information
Currently, many small companies and micro-entities are able to file simplified accounts.
From April 2028, these businesses will also need to submit their profit and loss account as part of their annual filing.
While Companies House has confirmed that smaller companies can choose not to make this information publicly available, it will still be shared with the relevant government bodies, including HMRC.
Abridged Accounts Will Be Removed
Another important change is the removal of abridged accounts.
Businesses will instead be required to submit a complete set of accounts that meet the new filing requirements.
This is designed to improve consistency and reduce confusion across the Companies House register.
How Could These Changes Affect Your Business?
The impact will vary depending on how your business currently manages its accounts.
If you already work with an accountant and use modern accounting software, there may be very little you need to change.
However, if you currently prepare your accounts manually or use outdated filing methods, it is worth reviewing your processes sooner rather than later.
Preparing now gives you plenty of time to adapt without disrupting your business.
Top Tip: Don’t wait until 2028 to review your accounting systems. Moving to digital processes early gives you time to become familiar with new software and reduces the risk of errors when the new rules come into force.
Why Working With an Accountant Makes the Transition Easier
Keeping up with changing legislation can be difficult when you’re busy running a business.
An experienced accountant will stay up to date with Companies House requirements and ensure your accounts continue to meet the latest standards.
They can also recommend suitable accounting software, prepare your annual accounts and submit them accurately on your behalf.
Having professional support means you can focus on growing your business while remaining confident that your compliance obligations are being met.
How Linda Carr Accountants Can Help
At Linda Carr Accountants, we help businesses across Peterborough stay compliant with changing tax and Companies House regulations.
Whether you need support moving to cloud accounting software, preparing your annual accounts or understanding how the 2028 reforms affect your business, our experienced team is here to help.
We believe in providing straightforward advice without unnecessary jargon, giving you confidence that your business is prepared for whatever changes lie ahead.
Need Advice?
The earlier you prepare, the easier these changes will be. If you’re unsure how the new Companies House rules could affect your business, speak to our team today. We’ll explain exactly what you need to do and help you stay fully compliant.
Get Ready Before 2028
Although the new rules don’t come into force until April 2028, there is no benefit in leaving preparations until the last minute.
Reviewing your accounting processes now, ensuring your records are accurate and moving to compatible software if required will help make the transition much smoother.
With the right advice and support, your business can continue operating confidently, knowing you’re ready for the future.
Frequently Asked Questions About the Companies House Changes in 2028
When do the new Companies House filing rules start?
The new accounts filing requirements are due to come into effect from April 2028. Businesses should begin preparing well in advance to ensure they are ready.
Will small companies need to file more information?
Yes. Small companies and micro-entities will need to submit a profit and loss account as part of their annual accounts filing.
Will paper accounts still be accepted?
No. Companies House is moving to a fully digital filing process, meaning annual accounts must be submitted using compatible commercial software.
Why are Companies House making these changes?
The reforms are designed to improve transparency, reduce economic crime and ensure the information held on the Companies House register is more accurate and reliable.
How can Linda Carr Accountants help?
We can review your current accounting processes, recommend suitable software, prepare your annual accounts and ensure your business is fully compliant with the new Companies House requirements before the changes take effect.