Companies Act 2014 section 305

Disclosure of directors' remuneration

Section 305 sets out the information that must be disclosed in the notes to a company's statutory financial statements regarding the remuneration of current and past directors for qualifying services.

• Companies must disclose aggregate directors' emoluments, share option gains, long-term incentive scheme receipts, pension contributions (split between defined contribution and defined benefit schemes), and termination payments for both the current and preceding financial year.
• Retirement benefits and termination payments relating to past directors (or past directors of a holding undertaking) must also be disclosed, with retirement benefits from fully funded schemes excluded.
• Emoluments include salaries, fees, bonuses, taxable expense allowances, and non-cash benefits, but exclude share options, pension contributions, and long-term incentive scheme receipts, which are disclosed separately.
• Companies qualifying for the micro companies regime are exempt from all of these disclosure requirements.