UK confirms accounts reforms from April 2028: software-only filing, no abridged accounts, P&L for small companies
The Government confirmed on 9 June 2026 how the Economic Crime and Corporate Transparency Act's accounts reforms will work, now from April 2028 instead of April 2027. All companies must file accounts in iXBRL through commercial software, abridged accounts end, and small and micro companies must file a profit and loss account but can opt out of publishing it. Audit exemption statements are strengthened and repeat shortening of accounting periods is restricted.
The Government announced on 9 June 2026, in a Written Ministerial Statement and Companies House news story, how the accounts reforms in the Economic Crime and Corporate Transparency Act 2023 will be implemented after consulting stakeholders.
What will change from April 2028
- Profit and loss account: small companies and micro-entities must file one, as other companies do, but can opt out of publishing it on the public register. Companies House, law enforcement and HMRC can still see it.
- Software-only filing: all companies must file accounts in iXBRL using commercial software, whether they file themselves or through an agent. Web and paper filing of accounts closes. WebFiling stays for other filings such as confirmation statements.
- Abridged accounts will no longer be an option.
- Audit exemption: a strengthened eligibility statement for every company claiming exemption.
- All parts of the accounts and reports must be filed together.
- Companies can shorten their accounting reference period fewer times.
Timing
The start moved from April 2027 to April 2028, giving companies a full accounting year plus nine months (21 months) to prepare. Companies House will email every company's registered email address.
What to do
Choose iXBRL-capable accounting software, stop planning on abridged accounts, and decide whether small companies in the group will opt out of publishing their profit and loss accounts.