Government still weighing changes to small company filing rules, says business minister

"all options are on the table"

"There are obviously different arguments in terms of the impact on businesses of their exposure, particularly for SMEs, versus people who are worried about financial crime and everything else,"

"We're balancing that at the moment and discussing it."

Ministers are reviewing proposals to require small and micro companies to publish full profit-and-loss accounts while weighing fraud prevention against administrative burdens. Under the Companies House plan, small and micro firms would lose the right to file abbreviated accounts from April 2027 and instead submit full profit-and-loss statements revealing revenues and profits. The change forms part of the Economic Crime and Corporate Transparency Act to reduce fraud and improve Companies House data accuracy. The Department for Business and Trade paused the rollout after business groups warned the rules could increase red tape and expose commercially sensitive information. Affected firms meet thresholds of turnover below £10.2m, balance sheets under £5.1m and fewer than 50 employees, and would be required to file digitally using commercial software.

Read at Business Matters