Small and micro companies will not have to submit P&L accounts to Companies House, after another government back-track!
The Economic Crime and Corporate Transparency Act had said from April 2027 all small and micro-entities would have to submit their P&L accounts in full.
The fear of many was their P&L accounts contain commercially sensitive data, which would be used by rivals.
Now, the UK government is saying the publishing of P&L accounts has been paused, and it has promised that at least 21 months’ notice will be given for companies to prepare, if it decides to go ahead with this radical change.
So, for now small and micro companies can continue with abridged and filleted accounts.
