Reporting requirements for directors increased

Reporting requirements for directors increased

From the tax year 2025-26 directors of close companies are required to provide additional information in their tax returns, even where no income has been received. HMRC has updated the self assessment tax return for the tax year just ended (2025-26). The form includes...
Changes to capital allowances

Changes to capital allowances

The writing-down allowance (WDA) for capital assets will be lowered from April 2026 and a new first year allowance is introduced. Currently, companies can claim full expensing to deduct 100% of the cost of new and unused qualifying assets from their taxable profits....
Companies spared from Making Tax Digital

Companies spared from Making Tax Digital

HMRC has confirmed that companies will not have to comply with the requirements of Making Tax Digital (MTD) for corporation tax (CT) purposes  No start date had been set for MTD for CT, under which companies would have been required to maintain digital records; send...