KNOWLEDGE IS POWER

Find accounting advice and answers to your financial queries in our blogs

BLOGS

Capital Gains Tax Reporting

HMRC

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Tax

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Tax Returns

Capital Gains Tax: Reporting in 60 Days

The 60-Day Rule: What You Need to Know In 2021, HMRC introduced a significant change for UK residents selling property (not your main home). Now, if you sell a property and make a taxable profit, you must: Report the sale to HMRC within 60 days of the completion date. Pay any CGT due within the

Accounting vs bookkeeping

SMALL BUSINESS

Accounting vs. bookkeeping: Clearing up the confusion

If you’ve ever found yourself wondering what the difference is between an accountant and a bookkeeper, you’re not alone. Many business owners use the terms interchangeably, assuming they mean the same thing. However, while accounting and bookkeeping often go hand-in-hand, they’re distinct roles with unique responsibilities – and understanding these differences can help you make

bookkeeping

News

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SMALL BUSINESS

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Xero

Behind the scenes of double-entry bookkeeping with Xero: Why the details matter

For many small business owners, bookkeeping might feel like a bit of a mystery. You upload receipts, reconcile bank transactions, and assign account codes, but what’s really happening behind the scenes? At DNA, we love pulling back the curtain to show how double-entry bookkeeping – the unsung hero of good financial management – works its

expenses

HMRC

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Tax

Why Allowable Expenses aren’t always Black and White

When it comes to allowable expenses, things aren’t always as straightforward as we’d like. The idea of reducing your tax bill by claiming legitimate expenses is appealing, but what happens when those expenses fall into a grey area? In this blog, we’ll explore some of the trickier expenses that aren’t always black and white, and

artificial intelligence

News

How Do I Use Artificial Intelligence?

How I Use Artificial Intelligence (And Did I Use AI to Write This?!) Whether you’re a fan of it or not, artificial intelligence (AI) is here to stay—and it’s actually been around for quite a while. You might be using it daily without even realising it! Take Xero, for example. It’s been quietly using AI

tax codes

HMRC

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News

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Tax

Demystifying tax codes: a business owner’s guide to 1257L and 0T

When you dreamed of running your own business, you probably didn’t kick your heels in delight for the day you’d have to deal with tax codes! While a good understanding of them is needed to avoid paying more tax than necessary, they’re really not as complicated as they seem. Let’s look at how to find

WEEKENDS ARE FOR FAMILY, NOT
FINANCIAL ADMIN

No more VAT returns on Saturdays. Discover how we use technology to streamline your systems and free up hours of your time.