Profit and Loss accounts will be mandatory but privacy option introduced

Companies House has issued new guidance on 9th June confirming that, while small companies and micro-entities will be required to file profit and loss (P&L) accounts, they can choose to keep those accounts confidential and out of the public domain. 

The Government had previously announced that all companies would be required to file P&L accounts annually, with the exemptions for small and micro entities being abolished. This was part of the modernising and transparency reforms brought in under the Economic Crime and Corporate Transparency Act 2023 (ECCTA  2023). 

Stakeholders representing small and medium sized businesses (SMBs) had lobbied the Government over the extra admin burden this would create. As a result, the Government has stated that whilst SMBs will still have to file their P&L with Companies House alongside larger businesses, they can choose to opt out of publishing the P&L on the register for the general public.  

The requirement to file accounts via accounting software will also still go ahead.  

There will be a longer period to prepare these changes however – they will now come into effect from April 2028, rather than April 2027 as previously stated.  

Where can I get help with this? 

For help preparing your company accounts or simply understanding how the Government's ECCTA reforms could affect your business, call TaxAssist Accountants on 01902 755557 or contact us here. 

First published 9 Jun 2026

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Helen Wood, CA

Helen is a qualified chartered accountant (CA) and joined TaxAssist in 2025 following three years as a freelance content writer for clients in the tax and accounting publishing sector. Prior to this, She spent 17 years at Big Four and Top 10 accountancy firms. Helen writes clear and helpful articles on tax and accounting for businesses and individuals.

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