From 1 April 2027, changes are coming to the way businesses report their financial results.
If you’re a small business owner currently filing filleted accounts with Companies House, here’s what you need to know.
What’s Changing?
From April 2027, all businesses will need to present more detailed information in their Profit and Loss (P&L) accounts – the part of your financial statements that shows income and expenses on public record.
When Does This Start?
- These changes apply to financial years beginning on or after 1 April 2027
- If your year-end is 31 March, this means your first updated accounts will cover the year ending 31 March 2028 and have comparatives for the year ending 31 March 2027 showing.
- We’ll begin planning for this well in advance, so you’re fully supported.
We’re Here to Help
Our next webinar is to talk about the advantages and disadvantages of being a limited company, partnership and sole trader. Join us to consider the new information for limited companies noted above. Imagine your ex, customers and suppliers being able to see how much profit you make! That as a limited company is where we are at – ie as a sole Director you are publishing your wage slip online.
