P&L filing for small companies: what’s changing in April 2028

From April 2028, small companies must file P&L accounts. Here’s what’s changing.

After months of delay, the government has confirmed that small companies and micro-entities will be required to file profit and loss (P&L) accounts from 1^st April 2028.

This is a significant change and will affect a large number of our clients.

Here’s what you need to know

What’s changing?

Currently, small companies and micro-entities can file simplified (abridged) accounts at Companies House, with no requirement to include a P&L. From April 2028, a full balance sheet and P&L must be filed.

However, following strong pushback from the business community, there is an important concession: small businesses will be able to opt out of having their P&L published on the public register at Companies House.

What else is changing?

• Abridged accounts are being abolished: you’ll no longer be able to file a simplified version of your accounts.
• Everything must be filed digitally: using commercial software in iXBRL format (meaning submitting a single document readable by both humans and machines). Web and paper-based filing will no longer be accepted from April 2028.
• All parts of your accounts must be filed together: rather than submitted separately.
• Audit exemption statements are being strengthened: if you claim an audit exemption, you’ll need to provide more detail to support that.
• Director’s reports will not be required for small companies: this proposal has been dropped.

When does this apply?

The rules come into force on 1^st April 2028.

What should you do now?

The April 2028 date may feel distant, but the shift to mandatory digital filing alone is a meaningful change for many businesses. If your accounts are currently prepared or filed manually, or if you’re using abridged accounts, now is a good time to start planning.

We’ll be in touch with clients directly as the detail and secondary legislation is confirmed. In the meantime, if you have any questions, we’re always here to help.

You can give us a call on 01872 267 267, message us via WhatsApp on 0777 49 39 111, or email us at [email protected].

Information taken from Business & Accountancy Daily (2026). P&L accounts will be mandatory for small companies from April 2028. https://www.accountancydaily.co/pl-accounts-will-be-mandatory-small-companies-april-2028