The Department for Business and Trade announced proposals for a consultation on changes to corporate reporting on 6 September 2026, with the government estimating its wider reform programme could save businesses more than £450 million a year.
The consultation opens on 7 September 2026 and is due to close on 30 November 2026. The measures remain proposals and do not yet alter companies’ legal reporting or audit obligations.
Plans include simplifying reporting requirements for small and medium-sized companies, alongside a proposal that could allow some medium-sized businesses to qualify for audit exemption.
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The government is also proposing that electronic communication with shareholders should become the default instead of paper-based communications.
Other areas under consideration include financial reporting, strategic reports, remuneration reporting and non-financial reporting requirements for private companies.
Separately, the government said work already under way to remove directors’ reports and expand strategic-report exemptions is expected to deliver annual savings of about £230 million.
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