We know that Making Tax Digital for Income Tax Self-Assessment (MTD ITSA) can seem like a lot to wrap your head around. But don’t worry! At DNA Accountants, we’re all about making your life easier. That’s why we’ve put together a handy, downloadable guide to help you navigate these changes with ease. What’s MTD ITSA
Tag Archives: accountancy
HMRC Updates & Changes, Self-Assessment Tips for Sole Traders, Self-Assessment/ Personal Tax
The Death of SA302s: Why Are We Still Being Asked for Them?
Introduction For many years, the SA302 was the go-to document for self-employed individuals applying for mortgages. Accountants were frequently asked to provide these forms to verify a client’s income. However, in 2017, HMRC stopped issuing SA302s directly to accountants, instead providing alternative ways for taxpayers to prove their income. Yet, eight years later, mortgage advisors
Common Bookkeeping Mistakes, Self-Assessment Tips for Sole Traders, Tax Planning & Saving Tips
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, Common Bookkeeping Mistakes, Corporation Tax, Organising Your Receipts & Invoices, Xero Tips & Tricks, Year-End Preparation Tips
What should your accountant check at Year-End?
As the end of the financial year rolls around, it’s super important to make sure your business’s financial records are spot on. This is where your accountant steps in, performing a bunch of key checks to wrap up your accounts. These checks help prepare accurate financial statements and ensure your business stays compliant with the
Changes to Tax Rates & Thresholds, Self-Assessment/ Personal Tax
Understanding Inheritance Tax: A (hopefully) Simple Guide
Unfortunately, Inheritance Tax comes at a time when we are already having to cope with the grief of a lost loved one and having to think about this tax is a major stress to compound this. In addition, it’s a tax where some planning can be done via some simple measures if your loved one