Episode overview
From 2028, small companies will be required to file profit and loss accounts online with Companies House for the first time. But will those accounts be made public?
In this episode, we break down the upcoming Companies House reforms, explain the new filing requirements for small businesses, and explore the confusion surrounding the apparent concession that may allow companies to withhold profit and loss information from public view. Essential listening for company directors, accountants and business owners preparing for the UK's biggest corporate reporting changes.
Episode summary
Significant changes to Companies House reforms are on the horizon, with new filing requirements set to affect small companies from 2028. In this episode, Ryan Lincoln joins host James Shipp to explain what the changes mean for business owners, company directors and accountants, and how organisations can prepare for the UK's evolving corporate reporting landscape.
The discussion focuses on the requirement for small companies to file profit and loss accounts online with Companies House, addressing the uncertainty around whether this information will become publicly available. The episode explores who will be affected, the practical implications of the reforms, and the steps businesses should be taking now to ensure they remain compliant and prepared.
This episode is ideal for anyone interested in Companies House reforms, small company accounts, corporate compliance, company directors' responsibilities, financial reporting requirements, and UK business regulations.
Key takeaways
Understand the new Companies House filing requirements coming into effect from 2028.
Learn how the changes could affect small companies and their reporting obligations.
Explore whether profit and loss accounts will be publicly available.
Identify the practical steps businesses should take to prepare.
Stay informed about one of the most significant changes to UK corporate reporting in recent years.
Chapters
00:00 – Introduction: profit and loss filing changes for 2028
00:37 – Background: original 2025 announcement and backlash
02:00 – The 2028 rules: filing full accounts and opting out
04:52 – Why businesses keep financial details private
06:11 – Abolishment of abridged accounts and directors reports
07:17 – Software-only digital filing and ending postal submissions
09:14 – Micro entity and small company threshold criteria
11:58 – Audit exemption changes and lease capitalisation
12:30 – Summary and next steps for business owners
Guest bio
Ryan Lincoln is a Partner at Lovewell Blake who advises businesses on tax, compliance and succession planning, with particular expertise in the agricultural and SME sectors.