Tag: Directors
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Dividend Tax Changes for 2026/27: What UK Business Owners Need to Know
The 2026/27 tax year brings important changes to dividend taxation that will directly impact directors and shareholders of UK limited companies. With increased tax rates and a significantly reduced allowance, it’s more important than ever to review how you extract profits from your business. At M-Power Finance, we’re helping business owners stay ahead of these…
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Companies House Identity Verification – date confirmed
Following the announcement earlier in the year regarding upcoming changes to Companies House filing requirements, it has now been confirmed that identity verification measures will be introduced from 18 November 2025. From this date, compliance will be mandatory. Benefits of the new legislation include more accurate and trustworthy register data and greater fraud protection. Key…
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What is a Director’s Loan Account?
A director’s loan is the funds a director deposits into and takes from the business that fall outside of expense expenses, salary or dividends. Directors’ loans can be with the director lending the company money or taking money out. A record of these withdrawals and deposits are shown on a director’s loan account. This record…
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Changes to Dividend Income Reporting
From 6 April 2025, directors of close companies will face a change in how they report dividend income on their Self-Assessment tax returns. What is changing to Dividend Income Reporting? Currently, directors reporting dividend income on their Self-Assessment tax returns are only required to declare the total amount received across all sources. There is no…