Upcoming Changes to Companies House Filing Requirements
Small businesses across the UK should prepare for significant changes to Companies House filing requirements set to come into force over the next year, as part of the Economic Crime and Corporate Transparency Act 2023. These reforms aim to improve transparency, reduce economic crime, and modernise the UK’s company register.
Here’s what small business owners and directors need to know:
1. Mandatory Digital Filing
Companies House will move to compulsory digital filing, phasing out paper submissions for most filings, including accounts and confirmation statements. Small businesses that currently file by post will need to ensure they have the systems and processes in place to file online.
Action point:
If you are not yet filing digitally, it is worth transitioning early and familiarising yourself with the Companies House online system or using accounting software that integrates directly.
2. Changes to Small Company Accounts Filings
Currently, many small companies file abridged or filleted accounts with minimal details. Under the upcoming changes:
All small companies will need to file a profit and loss account.
Micro-entities will also need to file a profit and loss account.
The option to file ‘filleted’ accounts (omitting the P&L and/or directors’ report) will be removed.
This will increase transparency but also means your company’s turnover, gross profit, and other sensitive details will become publicly accessible.
Action point:
Plan for this increased transparency when discussing future structuring and tax planning. Review what your financial statements will show publicly and prepare for potential questions from stakeholders or competitors.
3. Confirmation of Lawful Purpose
When incorporating a company or filing a confirmation statement, directors will need to confirm that the company is being formed and operated for a lawful purpose. This is part of Companies House’s drive to tackle illicit activities and improve the integrity of the register.
Action point:
Ensure directors understand the new statement and maintain clear documentation that your business activities align with the lawful purpose declaration.
4. Identity Verification for Directors
Directors, Persons with Significant Control (PSCs), and those filing on behalf of companies will be required to verify their identities with Companies House.
The identity verification system will be rolled out before the new filing requirements take full effect, so directors should prepare to verify their identity when requested to avoid delays in filings.
Action point:
Be ready to provide photographic ID and proof of address. If you use an agent to file on your behalf, check that they are aware of their responsibilities under the new verification process.
Why These Changes Matter
These reforms are some of the biggest in Companies House’s history, aiming to:
✅ Increase trust in the UK company register
✅ Prevent the misuse of UK companies for economic crime
✅ Modernise and streamline the filing system
For small businesses, these changes mean greater transparency, fewer filing options, and new compliance steps. Ignoring them could lead to penalties or difficulties in maintaining your company’s good standing.
How We Can Help
At NF Accounting, we are prepared to support you through these changes, including:
Reviewing your current filing methods and transitioning to digital filing
Preparing your accounts for the increased disclosure requirements
Assisting with director and PSC identity verification
Advising on any restructuring considerations to align with your future goals under the new transparency landscape
📩 Need help preparing for these Companies House changes?
Contact us today to discuss how your small business can stay compliant, confident, and ahead of the changes.