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From 1st April 2027, all companies will need to file their annual accounts using commercial software. Companies House are closing their web and paper-based systems for account filings on that date. Infinity Financial Solutions prepare all accounts using commercial software and are able to file direct to Companies House and HMRC.
Significant Changes
- Accounts must be filed digitally using software
- Profit and Loss accounts will be required for small and micro-entity companies
- Updates to audit exemptions and accounting reference dates
Why?
These changes are being introduced as part of a broader reform package under the Economic Crime and Corporate Transparency Act 2023.
The move to software filing is a critical step in improving the accuracy and quality of data on the register by reducing errors and formatting issues. It will also speed up processing times and help Companies House detect and prevent fraud more effectively.
For companies, this change will streamline the filing process and offer a more secure way to submit your accounts compared to paper filings.
Making basic profit and loss information available on the register aims to improve conditions for accessing credit, including trade credit lending, as well as helping to provide confidence for those who want to do business with a company. It will also reduce the risk of deliberate misuse of minimal disclosure options to hide money laundering and other fraudulent activity.
