Christmas is a time for showing appreciation. Whether you’re sending hampers to clients, buying your team a bottle of wine or organising the office Christmas party, it’s important to understand what HMRC will allow you to claim. The rules aren’t always straightforward. A Christmas gift might be a genuine business expense but still not qualify
Tag Archives: VAT
What can your business claim and what happens to the VAT A garden office can be a brilliant way to create a proper workspace at home. Unfortunately, the tax rules do not simply allow you to deduct the whole cost from your business profits. The building itself, the equipment inside it and the VAT on
Allowable Limited Company Expenses, Self-Assessment Tips for Sole Traders, Tax Planning & Saving Tips
Buying or Leasing a Van: What’s Best for Your Business?
If you’re a business owner, choosing between buying or leasing a van can feel like a big decision. In this guide, we break down the pros, cons, and tax advantages of buying or leasing a van, so you can make a choice that suits your business needs and budget. What’s the Difference When Buying or
Automating Your Finances, Best Accounting Apps, Technology & Software for Businesses, Xero Tips & Tricks
Achieving Financial Goals in 2025: How We Use Xero to Drive Success
The start of a new year is the perfect time to set clear financial goals for your business and is something we do at DNA every January. Setting goals is just the beginning – achieving them requires careful planning and the right tools. Here’s how we’re tackling 2025 with Xero as our secret weapon. Setting
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.
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,
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,
Bookkeeping, Common Bookkeeping Mistakes, Self-Assessment Tips for Sole Traders, Tax Planning & Saving Tips
Get those invoices paid quicker!
The problems faced by small business due to late payments have been very much in the news lately, as a business owner you are very aware of the importance of getting paid on time and that payment delays can seriously disrupt cash flow. When searching for ways to speed up payment, keep in mind that
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
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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