The UK government on 6 September 2026 set out plans to simplify corporate reporting, saying reforms already introduced were designed to save businesses more than £450 million a year. Its proposals include lighter reporting for small and medium-sized enterprises, allowing some medium-sized companies to qualify for audit exemption, and making electronic communications to shareholders the default. It also said it was exploring how artificial intelligence could improve efficiency.

The department said plans were already underway to scrap director's reports and expand exemptions from strategic reports, which it expected to save around 230 million annually. It cited average annual report lengths of 98,000 words for some businesses and 152,000 words for FTSE 100 companies, attributing the figures to the Quoted Companies Alliance.

Business Secretary Jonathan Reynolds said firms had been weighed down by paperwork and that the changes would cut the cost of doing business. CBI UK Competitiveness Director Jordan Cummins and Quoted Companies Alliance Chief Executive James Ashton both welcomed modernisation of the framework. A consultation was due to open on 7 September 2026 and close on 30 November 2026.