HMRC has clarified the new reporting requirements for directors of close companies, which apply from the 2025/26 tax year.

Key points for directors:

• Additional information must now be reported on the Self Assessment tax return, including details of directorships, shareholdings and dividends.
• The requirements can apply even where a director receives no remuneration or dividends.
• Directors of dormant close companies are also within the rules.
• A specific exception applies to certain unpaid directors of registered charities and Community Interest Companies (CICs).
• Directors with multiple appointments may face additional practical issues when filing their returns, particularly where software limits the number of employment pages.

Importantly, these rules apply to individuals who are already required to file a Self Assessment tax return. They do not, in themselves, require a director to register for Self Assessment.

With the new requirements and potential penalties for incomplete reporting, it is important to ensure your 2025/26 tax return is prepared correctly.

If you are a company director, shareholder or business owner and would like advice on how these changes affect you, our tax team can assist with your Self Assessment and ensure the relevant information is correctly reported.

For more information:

Email: info@veragroupltd.com

Switchboard: +44 (0) 20 7434 6000