As part of our journey to modernise and digitise our filing routes, all accounts must be filed using commercial software from 1 April 2027.
These changes seem to be in addition to the Making Tax Digital intiative and will drag every company into using commercial software as far as I can tell. They are part of the "Economic Crime and Corporate Transparency Act" according to the government.
I don't see how any company regardless of size, will avoid this. It's not clear to me if small/micro companies will be able to avoid it as the link also says this:
From 1 April 2027, we’re also streamlining the accounts filing options for small and micro-entity companies.
Micro-entities will be required to file a copy of their balance sheet and profit and loss account.
Small companies will be required to file a copy of balance sheet, directors’ report, auditor’s report (unless exempt) and profit and loss account.
Companies will no longer be able to prepare and file ‘abridged’ accounts.
Can you file these items without commercial software? Not sure.
If anyone knows more please tell in the comments. I think I'll need to update the community wiki post on who is affected also.
Image is from source licensed under Open Goverment License v3
