If you run a property company, the Companies House accounts reforms 2028 are now firmly on the horizon.
From April 2028, small companies and micro-entities will need to file more financial information with Companies House, while all companies will move to software-only accounts filing.
The reforms have been delayed by a year, but they have not been cancelled. Property company directors should use the additional preparation time wisely.
Quick answer: what are the Companies House accounts reforms 2028?
The Companies House accounts reforms 2028 have been delayed until April 2028, but they are still going ahead.
The headline point for property company directors is this:
Small companies and micro-entities will need to file profit and loss accounts with Companies House, but they should be able to opt out of having those profit and loss accounts published on the public register.
That distinction matters. Filing more information with Companies House does not automatically mean that every profit and loss account will become publicly visible.
Under the reforms:
small companies and micro-entities will need to file profit and loss accounts with Companies House
small companies and micro-entities should be able to opt out of having those profit and loss accounts published on the public register
all companies will need to file accounts using commercial software
Companies House web and paper filing routes for accounts will be withdrawn
abridged accounts will be abolished
audit exemption statements will be strengthened
tighter controls will apply when shortening accounting reference periods
For most property investors, the practical impact is not that profit figures will automatically become public. The bigger issue is that Companies House will require significantly more information to be filed than it does today.
What are the Companies House accounts reforms 2028?
The government has confirmed that the Companies House accounts filing reforms will proceed from April 2028, with further implementation details expected before the changes take effect.
The reforms form part of the wider Economic Crime and Corporate Transparency Act 2023, which aims to improve the accuracy, transparency and reliability of information held at Companies House.
For property company directors, the key changes include:
mandatory filing of profit and loss accounts by small companies and micro-entities
an option for eligible companies to prevent those profit and loss accounts from being published on the public register
mandatory filing through commercial software
withdrawal of Companies House web-based and paper accounts filing services
removal of abridged accounts
stronger audit exemption statements
tighter rules on shortening accounting reference periods
Accounts will also need to be submitted in iXBRL, which stands for Inline eXtensible Business Reporting Language, through compatible software.
While some of these changes may appear technical, they will affect how many property companies prepare, maintain and file their accounts.
What changed between the original 2027 proposals and the final 2028 reforms?
Many directors may remember earlier announcements suggesting the reforms would begin in April 2027.
Following feedback from small businesses, advisers and representative bodies, the government reviewed the implementation timetable.
The result is:
implementation delayed until April 2028
mandatory profit and loss account filing retained
publication opt-out introduced for small companies and micro-entities
software filing requirements retained
The delay gives companies more time to prepare, but it does not remove the need to act.
How will the Companies House accounts reforms affect property companies?
Many landlords, developers and property investors use limited companies and Special Purpose Vehicles, often known as SPVs, to hold property assets.
While a limited company can provide tax planning and commercial benefits, it is important to remember that a company is a separate legal entity with ongoing compliance obligations.
The Companies House accounts reforms 2028 increase those obligations and place greater emphasis on maintaining accurate records.
Property Tax Advice already supports landlords and property businesses with wider company compliance and company secretarial responsibilities. These reforms are another reminder that company administration should not be treated as an afterthought.
What do the reforms mean for property SPVs?
Most buy-to-let companies and property SPVs qualify as either micro-entities or small companies.
As a result, many property SPVs will be directly affected by:
mandatory profit and loss account filing
software-only accounts submission
abolition of abridged accounts
tighter Companies House reporting requirements
Directors who have historically relied on basic spreadsheets or annual bookkeeping exercises may find the new regime more demanding.
Will property companies need to file profit and loss accounts?
Yes.
Where a company qualifies as a small company or micro-entity, it will be required to file a profit and loss account with Companies House.
This represents a significant change for many property companies.
Currently, many small companies file accounts that do not include a publicly available profit and loss account. Under the reforms, that profit and loss account must be submitted to Companies House.
However, the government has also confirmed an important concession. Small companies and micro-entities should be able to opt out of having the profit and loss account published on the public register.
Detailed guidance on how the opt-out process will work is still expected.
Filing does not always mean public disclosure
This distinction is important.
Submitting a profit and loss account to Companies House is not necessarily the same as making it publicly available.
The government has confirmed that eligible small companies and micro-entities will be able to opt out of public publication. However, the detailed rules and process have not yet been finalised.
The precise information that will remain publicly visible where a publication opt-out is used has not yet been confirmed.
Even where publication is opted out of, Companies House, HMRC and relevant enforcement authorities will continue to have access to the filed information.
Why landlords may be concerned about profit and loss filing
Many property company directors have understandable concerns about submitting profit and loss information.
A profit and loss account can reveal information about:
rental income
management and operating costs
finance costs and interest charges
overall profitability
This information may be commercially sensitive, particularly where companies are negotiating with lenders, working with joint venture partners, competing for opportunities or operating within local property markets.
The publication opt-out should reduce some of those concerns.
However, directors should focus less on the disclosure issue and more on ensuring their accounts are accurate, complete and properly maintained.
What does software-only filing mean for property companies?
One of the biggest practical changes is the move to mandatory software filing.
From April 2028, companies will no longer be able to file accounts through Companies House WebFiling or paper submission routes.
Instead, accounts must be submitted using compatible commercial software.
For directors who currently prepare and submit their own accounts using Companies House filing tools, this could require a significant change in process.
Why this is not just a Companies House issue
Property company accounts are connected to wider tax and compliance obligations.
Directors should also consider:
corporation tax returns
rental income and allowable expenses
finance costs and interest treatment
director loan accounts
shareholder loans
joint venture arrangements
company secretarial obligations
statutory company records
A Companies House filing review can often uncover wider record-keeping issues.
If bookkeeping is incomplete, property expenses are incorrectly categorised, or director loan balances have not been reconciled properly, now is the time to address those issues.
When should property company directors start preparing?
April 2028 may seem a long way off, but property companies should not leave preparation until the last minute.
The government has intentionally provided a longer implementation period to allow businesses time to adapt.
A company with one or two rental properties may not require complex systems.
However, it still needs:
accurate bookkeeping
reliable accounting records
a clear filing process
defined director responsibilities
Larger property businesses, SPVs and group structures may benefit from a more comprehensive review before the reforms take effect.
How should property company directors prepare for the 2028 accounts reforms?
Property company directors should use the preparation period to review how their company operates.
Key actions include:
confirming whether the company qualifies as a micro-entity or small company
reviewing bookkeeping and record-keeping procedures
ensuring rental income and property expenses are recorded correctly
assessing whether current accounting software is suitable
reconciling director loan accounts and shareholder balances
reviewing Companies House filings and Persons with Significant Control records
ensuring the company’s registered email address is up to date and monitored
checking that any audit exemption claims remain valid
discussing the reforms with an accountant before the first affected accounting period
The Companies House accounts reforms 2028 provide a useful opportunity to review accounts, software, compliance procedures and company records together.
Do the reforms change whether landlords should use a limited company?
The reforms do not mean that limited companies have become unsuitable for property investment.
Many landlords and investors continue to use companies for legitimate commercial, tax planning and succession planning reasons.
However, the reforms are another reminder that company ownership comes with ongoing obligations.
Before establishing or expanding a property company, investors should understand both the benefits and responsibilities involved.
These include:
annual accounts
Companies House filings
corporation tax returns
statutory company records
director responsibilities
ongoing administration and compliance
The right structure depends on the investor, the property portfolio and long-term objectives.
How Property Tax Advice can help
At Property Tax Advice, we work with landlords, property investors, developers and company directors who hold property through limited companies and SPVs.
If you are unsure how the Companies House accounts reforms 2028 could affect your property company, now is a sensible time to review your position.
We can help you review:
your company structure
accounting systems and software
bookkeeping processes
corporation tax compliance
company secretarial records
director and shareholder loan accounts
The reforms begin in April 2028, but effective preparation should start well before then.
Speak to Property Tax Advice
If you would like help reviewing your property company before the new filing requirements arrive, get in touch with our team.
FAQs (Frequently Asked Questions: Companies House accounts reforms 2028
When do the Companies House accounts reforms start?
The Companies House accounts reforms are expected to start from April 2028. The timetable has been delayed from the original April 2027 date, giving companies more time to prepare.
Will property companies have to file profit and loss accounts?
Yes. Small companies and micro-entities will be required to file profit and loss accounts with Companies House. This is likely to affect many property SPVs and buy-to-let limited companies.
Will my property company’s profit and loss account be public?
Not necessarily. Small companies and micro-entities should be able to opt out of having their filed profit and loss account published on the public register. However, the detailed opt-out process has not yet been confirmed.
Will HMRC still be able to see the profit and loss account?
Yes. Even where a company opts out of public publication, Companies House, HMRC and relevant enforcement authorities are expected to retain access to the filed information.
Can property companies still file accounts through Companies House WebFiling?
From April 2028, companies will no longer be able to use Companies House web or paper filing routes for accounts. Accounts will need to be filed using compatible commercial software.
What does iXBRL filing mean?
iXBRL stands for Inline eXtensible Business Reporting Language. In practice, it means accounts must be prepared and submitted in a digital format that Companies House systems can read and analyse.
Will abridged accounts still be available?
No. The reforms remove the option to file abridged accounts. This is one of the reasons property company directors should review their current accounts preparation and filing process.
What should property company directors do now?
Property company directors should review their bookkeeping, accounting software, Companies House records, director loan accounts, shareholder balances and filing processes before the reforms take effect.
When do the Companies House accounts reforms start?
No. The reforms do not mean limited companies are unsuitable for property investment. However, they do reinforce the need to understand the compliance responsibilities that come with company ownership.
Should I speak to an accountant before April 2028?
Yes. If you own property through a limited company or SPV, it is sensible to review your accounts, software, records and company structure well before the first affected filing deadline.
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