Financial Accounting Update: Accounts Filing Changes from April 2028

Financial accounting is a core part of what we do at Finling Associates, helping ensure compliance, transparency and effective decision-making for our clients. This area is led by Rami Antanavicius, who oversees both our financial accounting and company secretarial services, supporting clients through an evolving regulatory landscape.

Key Changes to accounts filing from April 2028

The UK Government has confirmed how it will implement reforms introduced under the Economic Crime and Corporate Transparency Act 2023 (ECCT Act 2023). Following consultation, these changes will now take effect from April 2028, giving businesses additional time to prepare.

The main updates include:

Profit & Loss filing for smaller companies – small and micro-entities will be required to file P&L accounts, but with the option to opt out of public disclosure.

All companies must file accounts using commercial software (Inline eXtensible Business Reporting Language (iXBRL) format).

Removal of abridged accounts – this option will be withdrawn.

Stronger audit exemption statements - companies will need to provide clearer justification when claiming exemption.

Limits on changing accounting periods - restrictions will reduce how often accounting reference periods can be shortened.

What This Means for You

These changes aim to improve transparency while recognising concerns around commercial sensitivity, particularly for smaller businesses. At Finling Associates, we already file accounts using compliant software, so many clients are well prepared. As further guidance becomes available - especially around P&L publication; we will provide an update.

Questions?

If you’d like to discuss how these changes may affect your business, please get in touch with our team.