Insights

The UK government has already implemented a series of reforms under the Economic Crime and Corporate Transparency Act ("ECCTA") affecting company and LLP accounts filing requirements. However, implementation of the remaining changes has now been deferred to 1 April 2028 (previously April 2027), giving businesses additional time to prepare.

The government is now introducing two key changes:

1. Opt-out of profit and loss publication: Small companies and micro-entities will be able to opt out of having their profit and loss accounts published on the public register. Further details on the opt-out process have not yet been published.
   
2. Extended implementation timeline: The reforms will now take effect from 1 April 2028, providing a total of 21 months’ preparation time (one full accounting year plus nine months).

In line with these changes:

Web and paper filing routes for accounts will be closed from 1 April 2028. These routes will remain available for other statutory filings not affected by the reforms.

Businesses that currently do not use accounting software for filing will need to ensure they transition to a software-based process ahead of the implementation date.

How to Keep Up to Date

We are monitoring these reforms closely and will continue to review updates as further guidance is issued. We will provide updates and commentary where relevant to help businesses understand the practical impact of the changes as the implementation date approaches.