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The Income Tax (Additional Information to be included in Returns) Regulations 2025

S.I. 2025/84 · Made 27 January 2025

Original text. legislation.gov.uk does not revise statutory instruments, so later amendments are not shown here. Changes made to it are listed under each provision when known.

Income Tax

Made 27th January 2025

Laid before the House of Commons 28th January 2025

Coming into force 6th April 2025

The Commissioners for His Majesty’s Revenue and Customs, in exercise of the powers conferred by sections 8(1I) and (1L), 8A(1G) and (1J) and 12AA(5F) and (5I) of the Taxes Management Act 1970f1 make the following Regulations.

In accordance with sections 8(1J), 8A(1H) and 12AA(5G) of the Taxes Management Act 1970f2, the Commissioners consider that the information specified by these Regulations is relevant for the purpose of the collection and management of income tax.

Annotations to the whole text

Footnotes

f1

1970 c. 9. Sections 8(1I) and (1L), 8A(1G) and (1J) and 12AA(5F) and (5I) were inserted by section 36(1), (2) and (3) of the Finance Act 2024 (c. 3).

f2

Sections 8(1J), 8A(1H) and 12AA(5G) were inserted by section 36(1), (2) and (3) of the Finance Act 2024.

Contents

  1. 1Citation, commencement and interpretation
  2. 2Additional information to be provided in relation to commencement and cessation of business activities
  3. 3Additional information to be provided in relation to directorships, close companies and dividend income
  4. 4Additional information to be provided in relation to directorships, close companies and dividend income
  5. 5Additional information to be provided in relation to directorships, close companies and dividend income
  6. Signature
  7. Explanatory note

1Citation, commencement and interpretation

(1)

These Regulations may be cited as the Income Tax (Additional Information to be included in Returns) Regulations 2025 and come into force on 6th April 2025.

(2)

In these Regulations—

  • “personal return” means a return in pursuance of a notice under section 8(1) of the Taxes Management Act 1970f1;

  • “trustee’s return” means a return in pursuance of a notice under section 8A(1) of the Taxes Management Act 1970f2.

2Additional information to be provided in relation to commencement and cessation of business activities

(1)

This regulation applies to a person required to make and deliver a personal return, a trustee’s return or a partnership returnf1 for a year of assessment (“the relevant year”) after the tax yearf2 2024-25.

(2)

If the return is required to contain information relating to a business activity carried on by the person which commenced or ceased during the relevant year, the person must include in the return the date on which the business activity commenced or ceased.

(3)

In this regulation, “business activity” means a trade, profession or vocation which may give rise to profits chargeable to income tax under Chapter 2 of Part 2 of ITTOIA 2005f3.

3Additional information to be provided in relation to directorships, close companies and dividend income

(1)

Regulations 4 and 5 apply to a person required to make and deliver a personal return for a year of assessment (“the relevant year”) after the tax year 2024-25.

(2)

In regulations 4 and 5, “close company” has the meaning given in section 439 of CTA 2010f1.

4Additional information to be provided in relation to directorships, close companies and dividend income

The person must include in the return the following additional information—

(a)

whether the person was a director of a companyf1 during the relevant year;

(b)

if so, whether any such company was a close company.

5Additional information to be provided in relation to directorships, close companies and dividend income

(1)

If the person was a director of a close company during the relevant year, the person must include in the return the following additional information—

(a)

the name and registered number of the close company;

(b)

the amount received by the person by way of dividend income from the close company during the relevant year (which may be zero);

(c)

the percentage of the share capital of the close company held by the person (which may be zero); and if that percentage has changed during the relevant year, the figure to be included is the highest such percentage.

(2)

In paragraph (1)(a), “registered number” has the meaning given in section 1066(1) of the Companies Act 2006f1.

(3)

In paragraph (1)(b), “dividend income” has the meaning given in section 19(2) of ITA 2007f2.

Signature

Penny Ciniewicz

Carol Bristow

Two of the Commissioners for His Majesty’s Revenue and Customs

27th January 2025

Explanatory note

(This note is not part of the Regulations)

These Regulations specify additional information which persons are required to include in certain tax returns which they may be required to make and deliver to His Majesty’s Revenue and Customs.

Regulation 2 requires the inclusion, in personal returns, trustee’s returns and partnership returns, of the dates of commencement and cessation of business activities.

Regulations 3, 4 and 5 require the inclusion, in personal returns, of information concerning directorships, close companies and dividend income.

A revised Tax Information and Impact Note covering this instrument was published on 14 March 2024 alongside draft statutory instruments for technical consultation. This is available on the website at https://www.gov.uk/government/consultations/draft-legislation-improving-the-data-hmrc-collects-from-its-customers/draft-statutory-instruments-impacts-improving-the-data-hmrc-collects-from-its-customers .