Companies House Proposed Filing Reforms

2nd March 2022

The Government have announced plans to revamp filing at Companies House for small companies & micro-entities in a move that will see additional information made available to the public when filing company accounts. The reforms are largely seen as an attempt to reduce the levels of economic crime committed through the country.


Currently, small companies & micro-entities are able to file accounts at Companies House without including the Profit & Loss report. The proposed changes would see this report now being included when company accounts are submitted to Companies House by small companies and therefore being available to the general public.


Additionally, small companies would also be required to file a directors report as part of the company accounts, this is currently optional for small companies. The report of the directors summarises the business activities of the company as well as confirms compliance with accounting standards.


Making additional information available to public is intended to improve the ability of businesses to make informed decisions when entering into transactions with other companies. Disclosing additional information is also intended to reduce the risk of fraudulent information being filed at Companies House.


The changes proposed also include simplifying the filing options for company accounts by removing the option to file abridged & filleted accounts, instead companies will be able to choose either micro-entity filing or small company filing. This choice would, we expect, be driven by the size of the filing company, determined by reference to turnover, gross assets and/or number of employees.


Despite what we had heard from earlier reports, there are currently no changes proposed to the filing deadline of nine months after the year end for private companies (six months for public companies). Though it should be noted that this could be reviewed in the near future.


It is also proposed that the ease with which individuals can create a company within the UK will be reduced with the proposals suggesting that photo ID verification checks should be carried out on all new and existing company directors & anyone filing on their behalf. All companies will need to have at least one verified person associated with them at Companies House. Penalties are proposed for directors that are not verified with Companies House and companies that has an unverified director associated with them will have committed an offence.


If you have any questions on the proposed changes please contact your local Whitings office for more information on how the changes may affect your company.


Disclaimer - All information in this post was correct at time of writing.
Other Blogs
Nick Edgley
26th February 2024 Short Term Lets and Airbnb: Planning Permission

Thinking of offering your property for short term lets? Planning permission may be required.   What’s Changing? From this summer the Government will introduce legislation to require owners of new short term lets in England to secure planning permission to use their properties for this purpose. You will need to be aware of this requirement…

Maddie Milner
22nd February 2024 Companies House fees increasing

From 1st May 2024, Companies House fees are increasing. These increases are following the announcement of the Economic Crime and Corporate Transparency (ECCT) Bill, which is giving Companies House greater powers in verifying the accuracy of information and tackling economic crime.   Some of the main rises in costs are as follows:   New fee…

Louise Bassett
21st February 2024 How is the government supporting farmers?

Let’s ask the question, ‘How is the government supporting farmers?’   DEFRA shared a press release from the Prime Minister yesterday, citing his and his party’s commitment to farmers and rural communities.   We already know that Sustainable Farming Incentive (SFI) and Countryside Stewardship payments are being increased across the board by approximately 10%, but…

Shamus Chaplin
20th February 2024 Update on Double-Cab Pick-Ups: HMRC are reversing

Update on Double-Cab Pick-Ups   On the 12th February 2024, HMRC announced that their interpretation of the legislation had changed regarding the favourable tax treatment of pick-up trucks from 1st July 2024. However, after consulting farmers, construction workers and other industry professionals they have now reversed their decision!     Current Position HMRC interprets the…

Ian Piper
19th February 2024 SME Ely Business Awards 2024: 1 Week Left To Enter!

There is just one week remaining to enter the SME Ely Business Awards for 2024!   Celebrate your business’ achievements and be in with a chance of winning by entering today. Entries close on Thursday 26th February 2024 at 3pm. Find Out More Click here to find out more about the SME Ely Business Awards…

Maddie Milner
16th February 2024 Companies House changes from 4th March 2024

,Find out more about the upcoming Companies House changes from 4th March 2024 here.     Registered email addresses One of the main changes from the 4th March 2024 are Companies House require all companies to provide a registered email address which will be collected within your companies next Confirmation Statement.   New companies will…