Over the past year, we’ve been working through the Companies House director verification process here at DNA Accountants. Like many accountancy practices, we knew it was coming. We read the guidance, understood the requirements, and made what felt like a sensible decision at the time: We would let clients complete the verification themselves, and we
Tag Archives: DNA Accountants
Changes to Tax Rates & Thresholds, Tax Planning & Saving Tips
Understanding Top Slicing Relief: Why It Doesn’t Always Save You Tax
When you cash in a life insurance bond or certain investment policies, you might face something called a “chargeable event gain.” This is the profit built up inside the policy, which HMRC treats as income in the year you cash it in. The problem? The whole gain is added to your income for that year,
Allowable Limited Company Expenses, Tax Planning & Saving Tips
Not All That Glitters Is R&D: Why HMRC Is Clamping Down on Dodgy Claims
At DNA Accountants, we’ve seen a worrying pattern lately: clients who were encouraged by so-called Research & Development (R&D) “specialist” firms to make claims they never should have submitted. The result? HMRC is now knocking on the door, asking for the money back – and in some cases, charging penalties on top. R&D tax relief
At DNA Accountants, we’re more than just number crunchers – we’re a close-knit team that truly cares about our clients, their goals, and their stories. We believe business is personal, and we love getting to know the people behind the businesses we support. So, we thought it was about time we introduced you to the
CIS, CIS for Contractors, CIS for Subcontractors, CIS Useful Guides, Self-Assessment Tips for Sole Traders
The Construction Industry Scheme (CIS), decoded: A straight-talking guide for builders, subbies and contractors
If you’re in the building trade and you’ve ever scratched your head wondering why 20% got taken off your invoice — or whether you’re supposed to register with HMRC — you’re in the right place. We’ve put together a friendly, plain-English guide to the Construction Industry Scheme (CIS) that explains everything without the jargon. Whether
Automating Your Finances, Best Accounting Apps, MTD for Income Tax (ITSA), Self-Assessment Tips for Sole Traders, Self-Assessment/ Personal Tax, Xero Tips & Tricks
Tax-saving tips for sole traders: expenses you might be missing
Navigating self-employment in the UK comes with a learning curve, especially when it comes to managing your taxes. One of the easiest ways to reduce your tax bill is by making sure you’re claiming all the allowable business expenses you’re entitled to. But lots of sole traders miss out on some. That’s where these tax-saving
CIS for Subcontractors, Self-Assessment Tips for Sole Traders, Self-Assessment/ Personal Tax, Xero Tips & Tricks
What are the benefits of filing my tax return early?
Although the end of January is still a few weeks away, did you realise that filing your tax return sooner rather than later has a number of advantages? The one positive aspect of the tax return deadline is that it is always the same – January 31st. This means that with a little planning and
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
Bookkeeping, Self-Assessment Tips for Sole Traders, start-ups, Tax Planning & Saving Tips, Xero Tips & Tricks
Do you know your numbers?
As a freelancer, sole trader or small business owner, other than knowledge of your own trade the most important thing to keep on top of in your business are the numbers. Income, expenses, cashflow, projections, first-hand knowledge of these will prove to be the most important information you will have to hand and without them,
So you’ve decided to Start-Up that business idea floating about in your head, and turn it into a reality; you’ve got a name, now you just need an Entity- but which is right? Limited Company, Sole Trader or Partnership? You should assess the types based on your available time, commitment and resources, and consider long-term
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