Newsletter - November 2025

Posted on 9th November 2025

As we move toward the end of 2025, there are several important tax and business changes that will matter to company directors, self-employed individuals, and anyone with overseas income.

At Bidwell Accountancy Ltd in Milton Keynes, our goal is to keep you informed and prepared so you can stay compliant and protect your financial position.

Identity Verification Now Required for Company Directors

From 18 November 2025, all company directors and Persons with Significant Control (PSCs) must verify their identity with Companies House. This is a major government step toward tighter corporate transparency.

Verification will be a one-time requirement and can be completed:

Through GOV.UK One Login

With the Companies House app

At a participating Post Office

Or through an Authorised Corporate Service Provider, such as Bidwell Accountancy

If you are unsure how to complete this process or what documents you need, Bidwell Accountancy can guide you through each step.

The New Foreign Income and Gains (FIG) Regime

From April 2025, the remittance basis for non-domiciled individuals ended and the Foreign Income and Gains (FIG) regime came into force. This change affects any UK resident with overseas income.

Key points you need to know:

Almost all UK-resident individuals must now report foreign income to HMRC.

Those who recently became UK-resident may qualify for 4-year FIG relief, which provides full tax relief on eligible overseas income.

The relief is only available to individuals who have not been UK-resident in any of the previous 10 tax years.

Claims must be made through self-assessment and cannot be rolled forward.

Typical income covered includes foreign employment income, overseas property profits, dividends from non-UK companies, and interest from foreign accounts.

If you think you may qualify for FIG relief, we can help you review your residence status and complete the claim correctly.

Unclaimed Child Trust Funds – Over 750,000 Eligible Young Adults

HMRC reports that more than 758,000 young adults aged 18 to 23 still have unclaimed money in dormant Child Trust Fund accounts. The average balance is estimated at £2,240.

If you or your child were born between September 2002 and January 2011, there may be funds waiting. You can check by searching “Find my Child Trust Fund” on GOV.UK.

New Reporting Rules for Company Directors from April 2025

From the 2025-26 tax year, close company directors and self-employed individuals will face new mandatory self-assessment reporting requirements.

You will now need to report:

Whether you are a director of a close company

The company name and registration number

Dividend amounts received

Your percentage shareholding (including the highest level held during the year)

You must also report the start or cessation of any trade, which was previously voluntary.

Bidwell Accountancy is ready to support you with these new rules so your tax return remains accurate and compliant.

📅 Tax Diary – Key Deadlines for November and December 2025

Keep on top of your tax obligations with these key dates:

1 November – Corporation Tax due for year ended 31 January 2025

19 November – PAYE/NIC and CIS returns due

1 December – Corporation Tax due for year ended 28 February 2025

19 December – PAYE/NIC and CIS returns due

30 December – Deadline to file 2024-25 self-assessment if you want unpaid tax collected through your 2026-27 tax code

If you would like Bidwell Accountancy to handle upcoming deadlines or take over your payroll, CIS, or Corporation Tax submissions, we are here to help.