If you own or manage a limited company, there are major updates on the way that will change how you file your annual accounts.
These are part of the Economic Crime and Corporate Transparency Act, a Government initiative designed to make UK businesses more open and accountable.
While some of the rules have already started to change, most of the big ones take effect in 2026 and 2027.
Below is a quick rundown of what’s changing, when, and what it means for you.
From 1 April 2027, you will only be able to file company accounts using specialist software. Companies House will stop accepting accounts submitted by post or through their website.
Most companies already file electronically via an accountant or software provider, so for many this change won’t have much impact.
However, if you still submit paper accounts, or use the basic Companies House service, you’ll need to update your process.
The simplified formats (like abridged and filleted accounts) will be scrapped in 2027. This is part of a wider push to make more financial information publicly available.
After the changes take effect:
Micro-entities won’t need a directors’ report, but their profit and loss account will become public.
From January 2026, small companies applying FRS 102 Section 1A must include more detail in their accounts. This includes information on:
These updates are separate from the legislation but will apply to many small firms.
More companies will qualify for audit exemption from April 2025, thanks to higher thresholds. But going forward, directors will need to:
This must be shown clearly on the balance sheet.
Companies will now only be allowed to shorten their accounting period once every five years, unless they can give a valid business reason and get approval.
It may seem like a long way off, but these changes will come in sooner than you think.
If you are unsure how they affect your business, or you need to switch to suitable filing software, we can help.
Contact us today to get ahead of the changes.
