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: self-employed
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
Bookkeeping, Director’s Pay vs Dividends, P11D's, PAYE, Self-Assessment Tips for Sole Traders, Tax Planning & Saving Tips
Tax-Saving Tips for Small Business Owners
As an ambitious entrepreneur, you often feel like there aren’t enough hours in the week. You’re busy with running the day-to-day operations, managing team members and, well, life. It means you’re left with little time to stop and consider how you can save on tax. Yes, tax can be an absolute minefield if you’re unprepared,
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
PAYE, Self-Assessment Tips for Sole Traders, Self-Assessment/ Personal Tax
As a sole trader, how do I pay myself?
If you are a sole trader, you can simply take money from your business bank account to pay yourself as a sole trader (we strongly recommend that you use a separate business bank account for your sole trader finances). And you need to make sure that you keep a record of these drawings, along with