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
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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
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
As a limited company owner, you’ll most likely pay yourself using a combination of salary and dividends. While it’s often the most tax-efficient way to withdraw money, be careful! Dividends have different tax rules compared to a normal salary. Don’t worry – we’re going to walk through what they mean for your business and how
In the bustling world of UK business, maintaining a healthy cash flow is paramount. Credit control, the process of managing a company’s credit policies, plays a crucial role in ensuring that invoices are paid on time and that the business does not inadvertently become a lender to its clients. Here’s a deep dive into effective
What is a Fixed Asset? Alright, folks, let’s dive into the world of fixed assets. Imagine fixed assets as the big-ticket items in your business – the ones that stick around for a while and help you generate revenue. We’re talking about things like buildings, machinery, vehicles, and even that snazzy office furniture. Capitalisation: When
What Are Payments on Account? The payments on account system is designed for people with untaxed income sources like the self-employed, partners in partnerships, or those with investment, rental, or dividend income. Unlike PAYE (Pay As You Earn) where tax is taken directly from your salary or pension each month, these payments cover income that
What is MTD we hear you ask? No, it’s not “Month to Date”, “Metric Tonnes per Day” or even “Marine Technology Directorate”! We’re talking about Making Tax Digital. The scheme was originally announced by HMRC in 2017, but it’s been years in the making (a bit like Avatar 2!). What’s changing? MTD will require
Here at DNA, we don’t believe in spreading ourselves thin. We focus on what we’re good at, and on doing it really well, because our clients deserve thorough, dependable support. It’s for this reason we now only work with limited companies (they’re kind of our thing). With over 20 years experience in limited companies, we
In the last six months we’ve been in the process of rebranding DNA Accountants. Having carried out an audit of our brand and website, it became clear that the kind of firm our clients know us to be wasn’t being represented well online. Soon, we’ll be going live with a whole new website, and we’re
