These changes could impact how you file your accounts, what gets shared publicly, and the tools you’ll need to stay compliant.
The government’s new P&L rules… coming soon?
The government hinted at bringing in new rules that require small and micro businesses to file detailed profit and loss accounts.
However, just days after small businesses received letters confirming the changes, the government clarifies that this was merely an intention rather than a firm decision. So, it’s understandably caused confusion.
Don’t panic. At the moment, stay put.
We are keeping an eye on any of the latest announcements and will guide our clients through every step once the position is clearer.
Changes to small and micro account filings
Alongside software filing, Companies House is changing the rules for how small and micro businesses file their accounts.
Expect more detail, fewer exemptions, and a general move towards greater transparency. This includes removing the option to file abridged accounts (which allows smaller businesses to leave out things like the full profit and loss statement from the public).
Software-only filing from April 2027
From 1st April 2027, all accounts will need to be filed using commercial software. This affects everyone, from the smallest to the largest companies.
If we currently file your accounts for you, there is nothing you’ll need to action here as we already use commercial software to file the accounts for our clients.
However, if you file accounts yourself, or are unsure on how they are filed, give us a call or an email to chat about this (you’ll find our number and email below ⬇️)
Tougher Director rules from autumn 2025
Another one to watch is stricter ID verification for company directors, kicking in from autumn next year. This is part of a broader Companies House reform to clamp down on fraud and improve trust in UK business data.
➡️ We’ll be sharing a more in depth blog post about this soon. Keep an eye on our blog post page, or our socials, for more information.
These changes are coming (some sooner than others) and they will take some getting used to. But please don’t worry about every headline and LinkedIn post about this, that’s what we’re here for.
We’ll be here to talk you through exactly what’s relevant for your business and help you plan ahead. Keep an eye on our blog and socials for more updates, and better yet, sign up to our email newsletter to get updates straight into your inbox without the need to do anything.
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As always, give us a call, an email, or a message with any questions. We’re here to help.
You can call us on 01872 267 267, email us contact@whyfield.co.uk, or message us on WhatsApp 0777 49 39 111.
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