Your 2026/27 tax year checklist: what to review, act on, and plan for
New tax year · April 2026 The new tax year began on 6th April 2026. While many headline rates are unchanged, there are important shifts, and frozen allowances that deserve your attention. Here’s what individuals and small business owners across the UK should be looking at right now. 1. Check your tax code: Frozen thresholds […]
How to pay yourself from a limited company: salary vs dividends
Most UK limited company directors do not know how to pay themselves from a limited company and get into trouble because they are trying to be clever. They get into trouble because paying yourself from your own company sits at the overlap of company law, payroll rules and personal tax – and online advice often […]
Accounting Terms Encyclopedia (UK)
Accounting Terms Encyclopedia Accounting and tax in the UK come with their own language. Whether you are self-employed, running a limited company, or just managing your personal tax affairs, it’s easy to get lost in the jargon. This encyclopedia of common accounting terms has been put together to help you understand the essentials. Each entry […]
VAT Mistakes and How to Avoid Them
Completing VAT returns can be challenging for small business owners, with substantial legislation and rules complicating matters further. It can be quite easy to make a mistake if you are not well versed in UK VAT legislation. At MJ Kane we have been keeping our clients VAT compliant for over 20 years. Over these years we have encountered some costly VAT mistakes that clients had previously been making. If you are worried about making VAT mistakes and how to avoid VAT errors keep reading.
VAT Filing Deadlines 2025 and How to Prepare
What are the VAT filing deadlines UK 2025, how do you prepare for VAT compliance and what is VAT? Value Added Tax (VAT) is a tax added to goods and services sold by businesses that are registered for VAT. Businesses in the UK, have to register for VAT if their VAT taxable turnover is more than £90,000. Businesses can […]
Freelancer Tax Tips UK
The financial challenges of freelancing are often a burden most people don’t anticipate. Over the years, the prices charged are increasing faster than the personal tax rate bands. As a result of this, freelancers who would have been taxed at 20% are now finding themselves taxed at 40% and in some cases even 45%. Considering […]
Tax on Crypto Currency and Digital Assets
Tax on Crypto Currency and Digital Assets is a rapidly evolving regulatory landscape. For cryptocurrency and digital assets in the UK, companies and individuals need to plan ahead to ensure compliance with their tax obligations. HMRC’s guidance on this matter, alongside emerging legislation, demands careful planning to avoid unexpected liabilities. Thats why we belive the importance of understanding how Crypto […]
HMRC Voluntary Disclosure Guide
Whether you are self-employed or run your own business, managing taxes can be daunting. Occasionally mistakes can happen, but fortunately HMRC allow you an opportunity to rectify any mistakes through a voluntary disclosure. This article explains all you need to know about voluntary disclosure and what it means for you as a taxpayer. What is […]
Financial Consulting Services
Financial consulting services cover a range of advisory activities designed to help companies manage finances effectively. An accountant can provide this, with the expertise and knowledge needed to help you manage finances. The primary goal of financial consulting services is to offer bespoke advice that aligns with your goals. This could be growing your business, […]
Tax on Instagram Earnings: A Guide for Content Creators
UK tax on Instagram earnings is something most creators fail to account for. Instagram has become more than just a place to share videos. It’s an avenue for content creators to monetise their creativity. Whether you’re sharing tutorials, vlogs, or entertainment content, turning your passion into income is an exciting option. However, this new earning […]
