ACCA urges HMRC to scale back new reporting demands on small businesses
Key takeaways
- The plans are outlined in the consultation Reporting company payments to participators – modernising the reporting framework .
- The body says the draft rules would pull in a wide range of transactions, including many that are exempt by type or value and could never generate a tax charge.
- It is also “disappointed” that the consultation does not consider the information already held by HMRC and other departments.
ACCA urges HMRC to scale back new reporting demands on small businesses ACCA is urging HMRC to make fuller use of existing i XBRL accounts filed by all close companies alongside CTSA · The Accountant Ellichipuram Umesh Fri, June 19, 2026 at 9:56 PM GMT+7 2 min read The Association of Chartered Certified Accountants (ACCA) has called on HM Revenue & Customs (HMRC) and HM Treasury (HMT) to revise proposals that would expand reporting on payments made by close companies to participators.
The plans are outlined in the consultation Reporting company payments to participators – modernising the reporting framework .
The ACCA acknowledged the government’s aim of narrowing the small company tax gap but argued the measures would mainly increase red tape for businesses that already comply, while having little effect on deliberate rule‑breakers.