SME Accounting News & Deep Dives: Companies House ID Deadline, HMRC's £16.1bn Corporate Crackdown & Crypto Nudge Letters
Wednesday 2 September 2026 edition : written by Jessica
For growing companies, the compliance calendar is becoming more digital, more data-led and less forgiving. This week’s major developments cover Companies House identity checks, HMRC’s widening enforcement activity, crypto reporting and the next phase of digital company accounts.
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The common search behind many of these decisions is simple: accountant near me. Whether you need local support or a remote specialist, the right match can help you prepare before a deadline becomes a problem.
1. Companies House identity verification: 17 November 2026 is the key cut-off
The transition period for Companies House identity verification ends on 17 November 2026.
Existing directors and people with significant control (PSCs) must verify their identity by the relevant deadline. For many directors, that means completing verification and providing their personal code alongside the company’s next confirmation statement. The final transition cut-off should be treated as the latest point by which outstanding checks must be complete.
The practical steps for a limited company are:
List every current director and PSC.
Check who has completed identity verification.
Make sure each verified individual has their Companies House personal code.
Match the process to the company’s next confirmation statement.
Check separate 14-day requirements that can apply to PSCs.
Directors and PSCs should not leave this until November. Delays can create problems with confirmation statements, appointments and other company filings.
The official Companies House identity verification guidance explains how individual deadlines work.
The rules for presenters : people filing information at Companies House : are on a later timetable. Presenter identity verification and compulsory registration for third-party agents as Authorised Corporate Service Providers (ACSPs) are now expected no sooner than November 2027. That gives accountancy firms and company secretarial providers more time to prepare, but it does not remove the immediate requirement for directors and PSCs.
2. HMRC widens its enforcement net
HMRC is increasing its use of data, international cooperation and targeted letters to identify tax that may be underpaid.
Overseas multinationals and the £16.1bn estimate
Recent coverage from Accountancy Age reports that HMRC estimates overseas multinational groups underpaid £16.1bn in UK tax.
The reported country breakdown includes:
United States-linked groups: £8.7bn
Switzerland-linked groups: £3.0bn
Germany-linked groups: £1.5bn
Although these figures concern large international businesses, the wider message matters to growing SMEs too. HMRC is investing in more sophisticated risk analysis. It is increasingly able to compare company accounts, bank information, payroll data, international records and tax returns.
For a UK limited company, this means corporation tax records should be consistent across:
Annual accounts
Corporation Tax returns
VAT returns
Payroll records
Director and shareholder transactions
Intercompany charges
Expenses and benefits
A corporation tax accountant can help review whether the figures tell a consistent story before a return is submitted.
Crypto nudge letters increase
HMRC sent around 81,000 crypto nudge letters in 2025/26, an increase of approximately 25% year on year. These letters are generally prompts rather than formal enquiries, but they should not be ignored.
A company director or shareholder may need to review crypto activity personally, particularly where company funds, remuneration or investment transactions are involved.
The key tax distinctions remain important:
A crypto-to-crypto exchange can be a disposal for Capital Gains Tax purposes, even when no pounds are paid into a bank account.
Staking income may be taxable as income when received.
A later disposal of assets received through staking can create a separate Capital Gains Tax calculation.
Mining, lending, decentralised finance activity and certain airdrops may require careful classification.
The future reporting environment is also changing. Under the Crypto-Asset Reporting Framework (CARF), automatic global data-sharing is expected to begin with reports due by 31 May 2027, covering activity from the 2026 reporting period. The first phase is expected to involve 52 jurisdictions, followed by a further 15 jurisdictions in 2028.
In other words, HMRC’s information about crypto activity is likely to become more complete over time.
If undeclared income or gains are found, early advice matters. An unprompted disclosure may have penalties capped at around 30%, whereas a prompted disclosure can lead to penalties in the 70% to 100% range, depending on the circumstances.
3. Companies House accounts reforms confirmed for April 2028
Companies House has confirmed significant accounts filing changes for 1 April 2028.
From that date, accounts filed with Companies House must be submitted using commercial software in inline XBRL (iXBRL) format. Web and paper filing routes for accounts are expected to close, although other statutory filing routes will remain available.
The official Companies House accounts reform announcement confirms that companies will have 21 months’ notice to prepare.
The reforms will affect small companies and micro-entities as well as larger businesses. Planned changes include:
Small companies and micro-entities filing a profit and loss account.
The option to opt out of public publication of profit and loss information, subject to the final process.
Removal of the abridged accounts option for small companies.
Software-only filing for all companies.
Digital tagging through iXBRL.
This does not mean every small company needs to change its accounts process today. However, growing SMEs should start asking:
Does our accounting software support iXBRL filing?
Who will prepare and submit the accounts?
Are our bookkeeping records detailed enough for a fuller profit and loss disclosure?
Do we understand which information may be visible on the public register?
Will we need help from a limited company accountant?
Moving to reliable monthly bookkeeping now can make the future transition much easier. It also gives directors better information for cash flow, corporation tax planning and business decisions.
4. MTD for Income Tax auto-enrolment continues through September
Making Tax Digital (MTD) for Income Tax is now relevant to many sole traders and landlords, including business owners with personal income outside their limited company.
HMRC’s staged auto-enrolment activity is continuing through September 2026 for taxpayers who should already be using MTD but have not signed up.
The current thresholds are:
More than £50,000 qualifying income: MTD from 6 April 2026.
More than £30,000 qualifying income: MTD from 6 April 2027.
More than £20,000 qualifying income: MTD from 6 April 2028.
A limited company itself is not automatically brought into MTD for Income Tax. However, directors with sole-trader income, property income or other personal reporting obligations may need to review their position.
Self-Assessment tick-box
Self-Assessment tick-box:
Have I reported all income connected with my business activities?
Have I checked whether crypto, property or freelance income needs reporting?
Have I reviewed whether MTD for Income Tax applies to me?
Have I kept records to support figures submitted on my tax return?
If you need help with a personal tax position, use our SA registration form to provide your details. Accountant Search can match you with a suitable professional through its Self-Assessment accountant service.
SME action list for this week
Growing SMEs should consider taking these steps now:
Complete Companies House checks for every director and PSC before the 17 November 2026 cut-off.
Review the next confirmation statement date and identify any PSC-specific verification windows.
Check crypto activity, including swaps, staking, DeFi income and assets held through overseas platforms.
Review corporation tax records for consistency across accounts, returns, VAT and payroll.
Ask your software provider about iXBRL and April 2028 accounts filing.
Prepare for fuller profit and loss reporting if you operate as a small company or micro-entity.
Check personal Self-Assessment obligations, especially where company directors have additional income.
Find support early rather than waiting for a nudge letter, rejected filing or approaching deadline.
If you are searching for an accountant near me, you can find an accountant through Accountant Search. For companies needing focused support, visit our limited company accountant page.
The right professional should understand your company size, sector, tax position and growth plans : not simply process a return at the end of the year.
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