Changes to rules which would have removed the exemption allowing smaller businesses to file abbreviated accounts will not go ahead, Companies House has confirmed.
As part of the Economic Crime and Corporate Transparency Act 2023, the government intended to require firms with a turnover under £10.2m, balance sheets under £5.1m and fewer than 50 employees to publicly disclose their profit and loss statement for the first time from April 2027.
In July 2025, it was reported that the then business secretary Jonathan Reynolds intended to scrap the plans due to fears it would increase red tape.
During the same month, Justin Madders MP, who was then a minister, said: “The Department for Business and Trade is currently engaging with stakeholders on proposed changes in filing requirements at Companies House to ensure they strike the right balance between tackling economic crime and avoiding undue burden on business.”
In an update published on gov.uk today, Companies House confirmed that the reforms will not go ahead in April 2027:
“Changes to accounts filing will not be introduced in April 2027. The reforms are still under review and a final decision will be announced shortly. Companies will receive at least 21 months’ notice to prepare.”
Other Companies House changes have already been introduced including requiring anyone who becomes a company director or person with significant control to verify their identity.
Companies House fees are being increased to pay for the reforms, including the cost of incorporation a company doubling from £50 to £100 from 1 February.