We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA
Introduction of small companies and micro-entities filing profit and loss accounts from April 2028 now paused
Companies House has recently issued the below statement on the gov.uk website.
The government has recently announced an update on how accounts reforms measures set out in the Economic Crime and Corporate Transparency (ECCT) Act 2023 will be implemented.
Following the recommendations of the Small Business Regulatory Taskforce, the government has decided to pause implementing the requirement for small companies and micro entities to file Profit and Loss (P&L) accounts with Companies House from April 2028.
In practical terms, this means companies will continue to be able to file abridged and filleted accounts (without Profit and Loss data) at Companies House from April 2028. We remain committed to transitioning to software-only filing for accounts and the other technical changes planned for April 2028.
During this pause, we will explore options for streamlining Companies House and HMRC filing processes, under the “tell Government once” ambition. We recognise the uncertainty this may cause some stakeholders. However, pausing the profit and loss filing requirement creates the opportunity to explore delivering our economic crime commitments whilst also reducing business burdens and improving filing processes.
You can find more information here:
Read the press notice from the Department for, Business, Innovation, Science and Trade (BIST)
Read the written ministerial statement by Lord Leung, Parliamentary Under-Secretary of State (Minis…
Read the government’s response to the taskforce’s recommendation