Companies House Powers Boosted 💪 What Company Directors Need to Know

The Economic Crime and Corporate Transparency Act 2023 #ECCTA2023 gives Companies House new powers to clean up the company register, share data with law enforcement, and enforce tougher penalties for non-compliance.

Have you had these emails from Companies House?

• “Verify your identity for Companies House now”

• “Changes to accounts filing – important update”

Both are legit — and require action by every Company Director.

What’s Changing (and When)

Starting Now

🔐 ID verification is required for all company directors and people with significant control (PSCs). If you haven’t already done it, check out my post: Verify your identity for Companies House.

From April 2027

🧾 Digital-only filing – Companies House will scrap its DIY Accounts templates.

📣 Micro and small companies to file their Profit & Loss account – this is the big one.

For some, posting your P&L online is a bit like sharing your payslip on Instagram 😱 It’s a major privacy shift.

Although #ECCTA2023 gives Companies House the power to choose whether or not to make your P&L public, their current plan is to make it mandatory from April 2027 — as confirmed in their latest email.

A glimmer of hope?

Business Secretary Jonathan Reynolds MP has expressed doubts about the move. I posted about this on LinkedIn — follow me there for updates as this unfolds.

FAQs

• Do I need bookkeeping software now? No. Small, non-VAT registered Limited Companies remain in a small club that are so far not affected by Making Tax Digital (a separate HMRC initiative currently affecting most sole-traders and Partnerships).

  
  

• Will my P&L be visible to the public? Yes — under current plans from April 2027.

  
  

• Will it be behind a paywall? No — anyone can search and view it for free.

  
  

• I value my privacy — what can I do? There are options, the pros/cons of which need careful consideration. If you’re concerned – reach out for personalised advice.

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