On 19th March 2026, HMRC published their open consultation regarding the reporting framework for reporting payments to participators. The open consultation seeks views on proposals to introduce new requirements to report transactions between close companies and their participators to HM Revenue and Customs (HMRC). The government will be consulting on proposals to possibly make it mandatory to report transactions between close companies and their participators - participators

The company is its own legal entity which is separate from you. The company will have its own assets and liabilities. Assets will be in...