Major Update from Companies House:
Public Profit and Loss accounts for Small Businesses from 2027
There’s significant change on the horizon for small and micro companies across the UK — and it’s one that will impact how small businesses present their profit and loss accounts and financial information.
From April 2027, all small and micro entities will be required to file profit and loss accounts (P&L) with Companies House, and for the first time, this information will be publicly available on the Companies House register.
What’s changing? Why do these changes matter?
Until now, small companies had the option to keep their profit and loss accounts figures confidential, which of course the majority of them did. This discretion is being removed as part of a broader drive by the government to improve transparency and reduce economic crime. It’s a shift that aims to:
- Help detect and deter fraud
- Enhance trust in the business environment
- Provide more visibility for lenders, suppliers, and investors
- Level the playing field for honest businesses
As well as Profit and Loss Accounts, what else Is being introduced?
In addition to the requirement to file public Profit and Loss accounts, Companies House has announced:
- Software-only filing: Paper and web-based submissions will be phased out
- Simplified accounts filing: More streamlined formats for all company sizes
- 21-month lead time: Companies will have a full accounting year, plus 9 months, to prepare before enforcement begins
As the changes will be implemented from 1 April 2027 – any businesses wishing to file accounts with accounting years ending after 31 July 2026 may wish to seek to prepare their accounts potentially earlier than usual so that the first accounts affected by the changes are those ending in 2027.
What does this mean for small business owners?
For many small business owners, freelancers, and micro-entities, this may feel like a big departure from the status quo. Historically, these businesses have benefited from limited disclosure — often filing only a balance sheet.
Now, your revenue, costs, and profits will become part of the public record. This is likely to have implications for:
- Competitive strategy
- Stakeholder perceptions
- Your relationship with banks and suppliers
- Investor readiness and due diligence
We would expect the profit and loss accounts to be filed with Companies House will be the summarised version rather than one containing any detail in respect of costs. At present however, no details of this have been released.
How RPGCC can help you prepare for profit and loss accounts filing?
At RPGCC, we work closely with small and growing businesses and their owners to ensure financial reporting is accurate, strategic, and fully compliant. Our team can support you with:
- Reviewing your reporting to ensure it reflects your business positively and accurately
- Advising on what increased transparency means for your commercial positioning
- Offering bespoke support to manage the shift with confidence
Now is the time to plan, ensure your systems are up to date, and work with advisers who understand both the detail and the bigger picture.
If you would like to speak to a member of our team about filing of small company profit and loss accounts please contact us or telephone us on 020 7870 9050.
