Jurisdiction: | UK |
Area: | Finance |
Requirement Date: | April 2027 |
Overview
This note outlines the updated filing requirements for UK companies under the Economic Crime and Corporate Transparency Act, with a focus on digital submission and tagging obligations.
Filing Format Requirement
From 1 April 2027, all UK companies must file annual accounts using iXBRL-compliant commercial software. Paper and web-based filing routes will be discontinued for accounts.
Required Components for Filing
Financial Statements
Balance Sheet
Profit and Loss Account
Cash Flow Statement (where applicable)
Notes to the Accounts
Narrative Reports
Directors' Report
Strategic Report (for medium and large companies)
Governance Report (if included in Strategic or Directors' Report)
Auditor's Report (unless exempt)
Audit Exemption Statement (if applicable)
Consolidation Exemption Statement (s400/s401)
Parental Guarantee Statement (s479A) (for subsidiary’s accounts)
Tagging Requirements
All filed documents must be tagged using Inline XBRL (iXBRL):
Financial data must be tagged using the appropriate taxonomy.
Narrative sections (e.g., Strategic and Governance Reports) must be tagged to ensure machine readability.
Tagging must be complete and accurate to meet Companies House validation rules.
Note: These filing and tagging services will not be provided by Access Coins.
Additional Notes
Abridged and filleted accounts will no longer be permitted.
Profit and loss figures will be publicly accessible.
Companies must ensure software compatibility and begin transitioning early.
For further guidance, companies should consult the Registrar's Rules and ensure alignment with UK GAAP or IFRS tagging taxonomies.