Directors’ remuneration reporting requirements in the Companies Act 2006 have changed.
The NEW Regulations started on 11 May 2025 and the amendments to the requirements for directors’ remuneration reports apply to financial years commencing on or after 11 May 2025, so the reuced reporting requirements will apply to companies with a 30 June year end for the financial year commencing on 1 July 2025. For companies with a 31 December year-end, the changes will apply to financial years commencing on 1 January 2026.
The Regulations exclude unquoted traded companies from the directors’ remuneration report and policy requirements.
The Regulations also allow remuneration payments or payments to directors for loss of office, which do not comply with the previously approved remuneration policy, to be approved by shareholder resolution and introduce certain amendments in relation to statutory auditors and third country auditors to address issues identified following Brexit.
