Companies House reforms

Companies House had initially announced changes to filing requirements would take effect from April 2027 but put this “on pause” while they listened to feedback on the timescale. It was confirmed in March this year that the changes would be delayed and in June we had clarification that those changes will now be taking effect from April 2028.

Baker explains: “From that date, all companies will have to submit their accounts using commercial software, so the web-based and paper-based filing routes will be closed and no longer available.

“Also, small and micro companies will have to file a profit and loss account. But they will be able to opt out of making that information publicly available on the Companies House register.”

ACSP Registration

Another aspect of the Companies House reforms is ID verification, with it becoming mandatory for directors and persons with significant control being in November 2025.

Member firms must register themselves as an authorised corporate service provider (ACSP) if they want to offer ID verification services. In future, but no earlier than November 2026, firms will also need to be an ACSP to file statutory information at Companies House for their clients.

“That has proved a challenge in some cases for our members, and we are seeing lots of questions come through from them on that process,” says Baker. She advises members who still need clarity on ACSP registration to refer to the FAQs created by ICAEW’s professional standards team.

Modernisation of Corporate Reporting consultation

This relates to government plans to review the UK’s annual report and accounts regime in its entirety. Westminster is keen to implement significant de-regulatory measures as quickly as possible, but the full range of any consultation outcomes would likely take several years to roll out.

“We've been expecting this public consultation since the start of 2026, but it hasn't materialised as yet,” Baker confirms.  “It will look at all of the requirements in producing the entire annual report and accounts, so it will be a really significant, holistic review of that report. We're very much hoping that it will be seen in the latter half of this year.”

Sustainability reporting

Sustainability reporting is increasingly seen as a growth opportunity for members and the profession more widely. The government published the final UK Sustainability Reporting in February, which are now available for voluntary use.

“We have had a consultation from the Financial Conduct Authority in the first half of the year, looking at potentially implementing UK SRS on a mandatory basis for listed companies, and we're expecting the outcome of that consultation in the autumn,” says Baker.