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Admin ramped up for directors of close companies
Close company directors will need to complete extra pages on self assessment tax returns from 2025/26 onwards, with more details required than before.
Directors of close companies need to complete a separate employment page for each directorship on their self assessment tax return from 2025/26 onwards, with more details than previously required, even where no salary, dividends or other income have been received.
A new tax year has dawned and typically, as voraciously debated in the pages of AccountingWEB, most self assessment tax returns for 2025/26 will have been placed on the back-burner for now.
But with Making Tax Digital (MTD) for income tax shifting focus from the mad rush of December to a more streamlined approach throughout the year, many taxpayers and agents will likely be eager to get a head start.
