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Filing small company accounts: The options

Sarah Dunn throws some light on a topic that has caused much uncertainty in recent months (By All Accounts, January 2018)

In 2016, major changes to UK company law came into effect, including new and amended rules for the filing of small company accounts. Most significantly, the option to file an abbreviated version of the full accounts was removed.

Instead, the new regime introduced what some refer to as a ‘file what you prepare’ model, meaning that the accounts filed at Companies House are the same as those prepared for members. Under this model, small companies were also given the option to prepare and file an abridged balance sheet, abridged profit and loss account, or both.