Do not require small businesses/micro-entities to file profit & loss accounts

Background

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.

Additional details

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.

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