The government is simplifying the complex rules on directors’ remuneration reporting to remove duplication due to EU Directives which are not needed post Brexit, and bringing in a limited tender exemption on non audit services
The statutory instrument will repeal most requirements relating to the reporting of directors’ remuneration by quoted companies that were added in 2019 to implement part of the revised EU Shareholder Rights Directive 2017/828. Existing UK law already provides for the majority of these additions.
These changes will simplify reporting for companies and are expected to reduce compliance costs by £240m a year. The current rules overlap considerably with directors’ remuneration reporting requirements that the UK introduced before 2019, and which continue in force.
The measures will be introduced in a statutory instrument, The Companies (Directors’ Remuneration and Audit) (Amendment) Regulations 2025, and will remove certain EU-origin directors’ remuneration reporting requirements on UK listed companies. The regulation is currently going through the sifting process which takes two days.
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