In recent years, HMRC has reduced the number of people required to complete a self-assessment return. However, from the 2025–26 tax year onwards, new disclosure requirements will apply to those who still need to file, particularly business owners and UK company directors.
On the SA102 employment pages, it will become compulsory to state whether you are a company director and whether the company is closed.
Additionally, if you are a director of a close company, you must provide details for each relevant company, including:Â
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- the company name and registered number,
- dividends received (shown separately from other UK dividends), and
- your percentage shareholding, based on the highest level held during the year.
A close company is a UK resident company controlled by five or fewer individuals. This will include many small and family companies.
Similar changes mean you must include a start date and, if relevant, an end date when a sole trade, partnership, or trust business begins or ceases during a tax year. This applies to individual, trust, and partnership returns.
These requirements do not change who must file a return. However, a new penalty applies when the extra information is incorrectly supplied. The penalty is £60 for each failure and will apply to returns for 2025 to 2026.
Some details may be complex, such as measuring a shareholding with different share classes; thus, precise record-keeping is advisable.Â
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If you think you will be affected by the new disclosure rules, please get in touch for more help and advice.
