We love working with businesses that align with our values and approach. But we also know that not every client is the right fit—and that’s okay! Being upfront about this helps both of us save time and focus on businesses where we can really make a difference. In this post, we’ll share some red flags
Category Archives: VAT
Bookkeeping, CIS, Corporation Tax, PAYE, Self-Assessment/ Personal Tax, VAT, Year-End Preparation Tips
Managing client expectations: How long will it take?
We love working with our clients, but let’s be real – nobody enjoys chasing emails about deadlines. So, to keep things running smoothly, here’s a handy guide on when you can expect your accounts, tax returns, payroll, and everything in between to be completed. Key to Timelines ✅ Timelines below are based on receiving all
Bookkeeping, Common Bookkeeping Mistakes, Organising Your Receipts & Invoices, Self-Assessment Tips for Sole Traders, VAT Tips for Small Businesses, Xero Tips & Tricks, Year-End Preparation Tips
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
Automating Your Finances, Bookkeeping, Common Bookkeeping Mistakes, Self-Assessment Tips for Sole Traders, Tax Planning & Saving Tips, VAT Tips for Small Businesses, Xero Tips & Tricks
The importance of providing bank statements to your accountant despite Xero direct feeds
In today’s digital world, tools like Xero have made managing business finances much easier. With direct bank feeds, your transactions automatically show up in your accounting software, saving you time and effort. But even though this technology is fantastic, it isn’t perfect. That’s why your accountant might still ask for copies of your physical bank
Welcome to the world of VAT. It might not be the most thrilling topic, but it’s essential for businesses like ours. Let’s dive in and make sense of it together. Ready? So, what exactly is VAT? Well, think of it as that sneaky little tax added onto most goods and services by businesses like ours.
Bookkeeping, Client Success Stories, Common Bookkeeping Mistakes, VAT Tips for Small Businesses, Xero Tips & Tricks
Are you thinking of doing your own limited company’s bookkeeping?
We hate to break it to you, but you’re not the best bookkeeper for your business. You are a business owner with a speciality in your industry. Here at DNA Accountants, we’ll always encourage business owners to hand over their bookkeeping to us. Why do we suggest this? Because it’s the fastest way to save
Best Accounting Apps, Changes to Tax Rates & Thresholds, HMRC Updates & Changes, Important News from HMRC, MTD for Income Tax (ITSA), MTD for VAT, Technology & Software for Businesses, Xero Tips & Tricks
What is MTD and how will it affect my business?
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
Bookkeeping, Self-Assessment Tips for Sole Traders, Self-Assessment/ Personal Tax, VAT
Planning on becoming self-employed? Do these five things first…
The simplicity of starting and operating your own business is one of the key advantages of working for yourself. Even when working for someone else, you might apply to become a sole trader, which is another word for self-employed, to see if you like it. Here are 5 things you must do when you decide
Corporation Tax, P11D's, PAYE, Self-Assessment/ Personal Tax, start-ups, VAT
Limited company director’s responsibilities: What you need to know…
When you decide to form a limited company you are creating a separate legal entity with its own legal framework and accountabilities. Any profits or losses incurred belong to the company. So, when you’re managing the company you need to treat it as a separate entity. Even if you’re the sole director and sole shareholder,
All businesses which have an annual turnover of more than the current VAT threshold (£85,000) must register for VAT and complete a quarterly VAT return, once your business is registered you must do three things: You must charge VAT (20%) on the goods or services you sell to customers and other businesses You must pay
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