New questions for Self Assessment tax return

The information required on the Self Assessment tax return will change for some taxpayers from 6 April 2025. This will impact tax returns for 2025/26 and future years.

The change affects taxpayers who begin or end self-employment, and directors of close companies. Broadly speaking, a close company is a company controlled by its directors, or by five or fewer ‘participators’, such as shareholders. Most family or private companies are likely to fall within this category.

From April 2025, where a self-employed person begins or ceases trading during the tax year, it will be mandatory to report this, with relevant dates, on the tax return. Previously this was a voluntary requirement. This additional requirement will impact personal tax returns, partnership returns and trustees’ returns.

For company directors, it becomes mandatory, rather than voluntary, to disclose close company directorships. Directors will also have to state the name and registered number of the close company; the value of dividends received from the close company for the year, declaring this separately from other UK dividends; and the percentage shareholding in that company for the year. If shareholding changes during the year, it’s the figure for the highest percentage shareholding that is needed.