Mirage Accountants Ltd

Deadline nearing for those claiming roll-over relief in 2022/23

Business owners who need to claim roll-over relief for the 2022/23 tax year are being reminded by HMRC that if they made a provisional claim for business asset roll-over relief in their self-assessment for that year and haven’t yet replaced it with a final claim, they need to do so. Roll-over relief can be claimed by a taxpayer who is trading and where a qualifying asset is sold and a new qualifying asset is acquired within a set period....

Deadline nearing for those claiming roll-over relief in 2022/23 Business owners who need to claim roll-over relief for the 2022/23 tax year are being reminded by HMRC that if they made a provisional claim for business asset roll-over relief in their self-assess…

HMRC proposing changes to how capital is released from companies

HMRC is undertaking yet another consultation, this time looking at how distributions and repayments of capital made by companies to their shareholders should be taxed. The proposals are primarily aimed at controlling shareholders and owner-managers of family and other private companies, but company directors may be affected where they are also shareholders or have another financial interest in the company....

HMRC proposing changes to how capital is released from companies HMRC is undertaking yet another consultation, this time looking at how distributions and repayments of capital made by companies to their shareholders should be taxed.   The proposals are prim…

Tax debt rises as fears grow of an extension to HMRC’s powers to reach into your bank
account to take money owed to it. Find out what you need to know:

Tax debt continues to rise amid fears about HMRC powers Overdue tax owed to HMRC had reached £44.7bn at the end of March, according to the latest official figures released in July, up from £44bn at the same time last year. This included new debt of £103…

Tax debt continues to rise amid fears about HMRC powers

Overdue tax owed to HMRC had reached £44.7bn at the end of March, according to the latest official figures released in July, up from £44bn at the same time last year. This included new debt of £103,592m for the full year to the end of March, which is up on the £96,944m for last year’s figures at the same point....

Tax debt continues to rise amid fears about HMRC powers Overdue tax owed to HMRC had reached £44.7bn at the end of March, according to the latest official figures released in July, up from £44bn at the same time last year. This included new debt of £103…

Long-awaited pension dashboard expected next year

Pension dashboards, which are designed to make it easier for people to decide where their pension is best placed, are expected to be released next year along with league tables for pensions. The aim is to allow pension savers to see how their workplace pension schemes compare to other pension providers in the marketplace. The pension dashboard has been discussed for years, by everyone from the government to scheme providers and financial advisers....

Long-awaited pension dashboard expected next year Pension dashboards, which are designed to make it easier for people to decide where their pension is best placed, are expected to be released next year along with league tables for pensions. The ai…

Could your business benefit from a mid-year business review?

Do a mid-year business review to see if you’re on track Most businesses will have goals that they want to hit by the year end, which is a good idea. If you know your destination, it’s easier to find the road to get there. But by doing a mid-year review,…

Do a mid-year business review to see if you’re on track

Most businesses will have goals that they want to hit by the year end, which is a good idea. If you know your destination, it’s easier to find the road to get there. But by doing a mid-year review, you can take a business snapshot to see if you are likely to meet those goals. Most of us now use accounting software to deal with the Making Tax Digital regime, and this has another major benefit....

Do a mid-year business review to see if you’re on track Most businesses will have goals that they want to hit by the year end, which is a good idea. If you know your destination, it’s easier to find the road to get there. But by doing a mid-year review,…

Your business uses AI, but are you using it safely and ethically?

Many businesses use AI, but are they using it well? AI is helping to save businesses hours each week, but the question now is not whether they should use it, but whether they are using it safely and ethically? AI can be a genuinely useful tool for s…

Many businesses use AI, but are they using it well?

AI is helping to save businesses hours each week, but the question now is not whether they should use it, but whether they are using it safely and ethically? AI can be a genuinely useful tool for small businesses especially helping to draft first versions of emails, policies, proposals, social media, meeting notes, and so on. It can also turn a long, complex document into a plain English summary, suggest ways to improve a sales message, or help prepare for a difficult client conversation....

Many businesses use AI, but are they using it well? AI is helping to save businesses hours each week, but the question now is not whether they should use it, but whether they are using it safely and ethically? AI can be a genuinely useful tool for s…

The Uncertain Tax Treatment regime may expand to include individuals and trusts. Here’s
what you need to know:

The Uncertain Tax Treatment regime could be expanded Fears are growing that HMRC’s proposed extension of the Uncertain Tax Treatment (UTT) regime could mire individual taxpayers and trusts in more complexity in an increasingly demanding tax system. T…