From 1 April 2027, Companies House will require small businesses and micro-entities to publicly file their P&L in addition to the balance sheet. The option to file abridged accounts will be removed, making previously private financial information publicly accessible.
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As an accountant working closely with small and owner-managed businesses, I am deeply concerned about the impact these changes will have on privacy, competitiveness, and entrepreneurial confidence.
I believe the most contentious issue is the requirement to publish the P&L account on the public Companies House register. This could expose key financial metrics such as turnover, gross profit, and operating profit to anyone — including competitors, suppliers, and even opportunistic scammers.