Foreign and welcome to the Pat Accounting Podcast with me, your host, Vicky Clark.

I'm going to help you get to grips with your finances, save you lots of money and take the stress out of doing your tax return.

So let's get going.

Hi, everyone.

Welcome to this week's live.

I am live from my kitchen today and we've got a good live lined up for you today on Making Tax Digital.

As always, my name is Vicky and this is my more than handsome business partner Lee, and we run the Pet Accountant and also this group, if you didn't know.

And we are accountants and we help pet businesses all across the uk.

Just in case you're new, because we have had a lot of newbies enter the group over the last month, but probably like 2 or 300, actually.

So just in case you're wondering who these strange people are that are doing a live on an accountancy group, that's who we are.

This is our fourth one of the month, so give ourselves a tap on the back because usually we're a bit rubbish at keeping up to date with them, but we are here and we are live.

So no swearing please.

Lee, I can't help, I'm so concentrate on getting the tech done and it's.

Like just this time, Lee's doing tech and you see it's quite.

I used to and do the tech and I can't multitask so I've made him do it today.

So these doing all the tech as always.

If you've got any questions, guys, please just put them in the comments.

We will aim to answer them as we go, even if they're not on topic.

It doesn't matter.

If you've got a burning question then just put it in the comments and we'll leave answering at the end or during the live.

So whatever you want to ask you, just fire away.

This week we thought we would do a little bit on making touch digital because why have you pulled a face?

Because I think I've at all my followers, not at all the Pet Accountant followers.

Oh, for God's sake.

And this has one job.

This is why we don't let Lee do it, because he does it wrong.

But yes, this week we're going to do Making Tax Digital.

Obviously we are getting very closer to the start of that, which is going to be the next tax year, so April 2026, so literally next year.

So you need to be tuned in for that so that you don't miss it, especially if you're doing your own tax returns.

If you've Got an accountant or if you use us then obviously we will keep you up to date of any changes or anything that you need to implement as we get closer to that day.

Yeah, so we're going to be talking about MTD today, how it's going to affect people.

We've done a little bit of research ourselves today as well and then we've discovered something that was quite eye opening of how HMRC decides who is going to come enrolled in the, in the submissions.

So anyway, we are close to the 31 January deadline.

There is two whole days left after days to get your self assessments in.

Remember automatic late filing penalty if you are a minute late past the deadline on 31 January of a hundred pounds.

If you don't pay what's owed you get a 15 day grace period and then you start getting interest and penalties on the, the late payments as well.

So really important that you get your self assessment payments in and don't forget if you earned over a thousand pounds last year in tax, you have to pay your first payment on account as well.

So that's going to catch a lot of people out this year but not.

All clients because we send you 5 million reminders.

We do.

Oh dear.

Yeah, MTD, we're going to stop also what we're going to do before we go off on a roll is discuss some software options and just because there's a million out there, some are MTD and we'll shorten it, it's making Tax Digital Compliance, some aren't.

Some people use their banks toolkit which is fine now but I'm pretty sure they're not going to be making Tax Digital compliant.

So it's important that you get the right software.

We will let you know what's out there, we'll let you know what we use, what we like, what we don't like, which I'm sure a lot of people follow our podcast.

They know that we don't like shipbooks so that is not one we would recommend but that is just personal preference.

Other accountants might love it, but we don't.

But yes.

So we have found out some very interesting information today that Lee had to get his pen and paper out because it just didn't make that effect.

This is from HMRC's website.

I was doing a little bit of research just in case anything had changed and they've just, I don't know why they make it so bloody complicated.

We actually literally write everything down so we're like, let's just make just.

It doesn't make any sense.

I think maybe let's.

I think let's take a step back a second.

Let's just explain what Making Tax Digital is.

That's pretty good.

Might include a couple more people in.

In the, in the.

In the live.

So Making Tax Digital is HMRC's new initiative of sole traders and landlords, basically.

So if you've got property, you're going to fall into this as well.

And basically, if your turnover is over a certain level, you have to start making quarterly submissions, a little bit like that, to HMRC to tell them what your profits are, what your expenses are.

And then at the end of the year, you have to do your self assessment still, but it's a final one that's going to consolidate all of the submissions in the year with any amendments and adjustments that you need to make.

Now, that's the reason why making Tax Digital and the push from accountants to get clients onto software.

Now, there are talks out there about, you know, bridging software that might be able to bridge a spreadsheet and do those submissions, but in all honesty, that's going to be an absolute nightmare because you have to make sure that these are accurate as well.

And the only way they're going to be able to do that is by introducing your bank statements to report them quarterly to hmrc.

If you don't maintain that spreadsheet and you miss things, then it's going to be very difficult to, to make a declaration to HMRC that what you're submitting is true and accurate.

And bearing in mind, we've also put a post out this week where they have done a recruitment drive for an extra 5,000.

Is it 5,000 staff?

Isn't it to go on their compliance side of things, to work out who's done it right, who's done it wrong and where they're going to reclaim their money from to up their fines and penalties.

We've already seen the interest that they're starting to charge has gone up, so therefore it's only logical that the amount of fines that they're going to start issuing and they're going to start clamping down on that because the government needs more money and also they'll pay for.

The 5,000 staff that they've just recruited.

So the only way to do that is by finding errors.

Yeah, and this is a side note.

When the Making Tax Digital for fact came out and it said the same thing about the bridging software.

My uncle got the bridging software because his clients didn't Want to go on software and it was horrific.

It was really, really bad.

And then he retired.

So yeah, it was really bad and it just, it wasn't as accurate, it didn't work and it was just a ball ache.

The thing is the amount of time that you're going to spend trying to check a spreadsheet over to make sure that you've captured 100% of the transactions from your bank account this time saving alone the software will provide will be worth it.

And what the software does is it doesn't matter what software we talk about.

All of them have the very basic of connecting a live bank feed or being able to upload what's called a CSV file, which is basically like an Excel version of the list of transactions in your bank to the software.

By doing that it ensures that 100% of the transactions are captured.

Now as part of that we would encourage clients to make sure that they have a separate business bank account so that their, their own personal expenditure in their day to day lives isn't running through the same bank that their business transactions are.

Because again when it comes to this making tax digital and you've got to declare your income and expenses if you're having to categorize, you know, hundreds and possibly thousands transactions in a quarter but the majority of those are coming from your trip to Tesco's.

You fill up at the car.

You know, the bits and pieces that you buy online, even things that you buy that you don't want other people to know that you're paying for subscriptions for.

We get it all those things.

Yes we have, you know, but cele life is life and you know, it happens and you just be professional about it and you move on.

And you don't Google it.

You don't Google it Jeffrey, don't Google it.

But the importance of these softwares is that it looks at the line by line transactions.

If we start with the basic software that is out there, that is a record keeping software that we are now using for all of our self assessment clients to sign up to us is Dext.

Dext connects to your bank account, it pulls through all the transactions and it's a receipt capture app that allows you to take a photograph of the receipt or the invoice that you've got.

It allows, it automatically pulls a lot of the information off.

It's saving you time.

And then you can categorize what it is that you bought and the categories are limited to prevent you from over categorizing and overthinking things.

So the reason that we've gone down that route is it costs a fiver a month directly from ourselves.

If you're on our self assessment packages, it's simple to use and it's all designed to be used on your phone.

And all you do is you say, right, I've gone out and I've bought, I've bought some poo bags.

They're going to be consumables and therefore they're going to go in the consumables category.

If you've transferred money in and out of the bank account, that's to yourself.

You class that as personal and it deals with that as drawings.

And what that does is when it comes to making Tax Digital, it allows us to go in when those submissions are due, check those postings, make sure that your bank balance matches what the software says is in your bank and as long as an issue it is.

Yes.

And we'll come on to that with the other softwares.

So as long as the bank balance matches, we check the transactions just to make sure that we're happy with where they've gone and nothing personal has slid through or you've not classified something else as personal when it shouldn't be there.

We then make a declaration to HMRC saying for this quarter, this is the income, this is the expenditure and this is the taxable profit.

And then we roll on to the next quarter.

Just like you that you get it.

Right, because obviously one quarter, then you go to the next quarter and then want to amend the first quarter, it's going to raise a red flag and I think part of the reason of them doing this is so that people can't fudge their figures at the end of the tax year.

Go.

Well, actually I'm going for a mortgage, so I'm actually going to just try and delete all of these exposure expenses.

Well, you can't because you've already did the quarterly submission.

And also whether they're going to fine you if they're late.

I think that's coming because otherwise they've got their way of enforcing it.

Yeah.

Otherwise people will just not do it.

So again, that's another possible fine if you don't get that bit right.

Yeah.

And I think, I think it's important to say that if you are a self assessment client of ours, generally we would want to be handling those making Tax Digital submissions anyway, just because when it comes to the self assessment at the year end, we need to know what have happened in those four submissions because the tax return will have to reflect that information and which is one of the reasons why we have heavily invested in the use of Dext to, to give our clients a simple solution that will work for accountants and the client all as one.

Now the downside with the deck side of things is that it's not an all singing, all dancing account package software.

It doesn't allow the client to run reports to tell them how well they're doing on the profit and loss side of things.

So it doesn't give key metrics in return.

It is solely focused for ease of use.

So that if you're on a spreadsheet you can use this, this app.

It's designed for you to take a photograph, click some buttons to categorize something and just say yep, go for it.

And then you can match it against the bank statement.

It'll automatically do a match itself and you say yeah, it's correct.

And anything that you don't have a receipt for, it basically allows you to run down in a list selecting the transaction saying that was personal, that was purchases, that was rent, that was motor expenses.

So it's, it's a great way to classify expenses really easily in the palm of your hand on your phone.

That's why it's price pointed at what it is at five pounds a month.

Tegan's made a very good point that for some reason I can't click it and let it in like I used to.

I don't know why it's limited me.

Like Tegan said, our clients that have gone from a spreadsheet to decks because they don't want the faff if they all sing and all dancing software, they just want to be able to input their stuff and have it done.

Obviously it'll do the quarterly reports, it'll do everything.

So for fiverr a month, if you're going from the spreadsheet to decks and you're not asked about all the other fancy stuff, you just want Billy Basic, then Dex is definitely the one to choose.

And for a fiver it's not going to break the bank either.

It's a no brainer.

The likes of zero can, you know, be upwards of 40 pound a month.

So five pound is, you know, see a month.

Yeah.

So would I advise somebody that's not, that doesn't have to do the MTD submissions to go on it?

Yeah, I probably would in all honesty.

And the reason why I would is because whilst you could be the most meticulous person in the world of going through your bank statement to try to add them onto this spreadsheet the software encourages you to keep on top of the classifications so that you can do it in real time.

Whenever you have to go back and sit there for a period of time after you've gone out and you've been walking the dogs all day or you've had a really heavy grooming session, you know you're tired, you can't be bothered.

This is admin that really just adds on to the stress of running a business.

You're less inclined to put every single transaction onto the spreadsheet and you'll start missing the small ones that over the course of the year adds up to some substantial tax savings.

And people always come to us and say, well, you're accountants, you must be able to tell me what I can claim or what I can't claim.

And the honest answer is there's no definitive rule or list of transactions or expenses that you are allowed to claim as a business.

Instead there's groups of items that you can claim.

So if we talk about advertising, advertising could be something as little as you paying to post up a little poster in your corner shop, or it could be something as exact exorbitant as having a welcome dinner as an open day for people to come into the shop and you know, and try the products and try your services where you're spending money on food, on alcohol, on entertainment.

But if you was to take a client out and do that on a one to one basis where you've wind them and dine them, then that's not allowable because that's business entertaining.

So it's really difficult for us to be able to say to somebody in this purchase, yes, in this situation this is allowable.

But if that situation changes, that's not allowable.

So what we say to clients is list absolutely everything and anything that you've used in the business for a business use and we will assess it on a one, on an item by item basis to see whether or not we can claim tax relief on that for you.

The more that we have to work with, the more that we can get you back on your tax.

If we don't know that you've spent it, we don't have this crystal ball that says, you know what, I don't know if such and such should have spent this money on some insurance that we didn't see.

So we're going to add insurance in because they must have spent spent it, that'll get their tax down.

That is fudging the accounts and that's something that we don't do.

And no accountant should do so.

You have to physically have spent the money in order for it to be classed as a legitimate business.

Expense allowances is something different.

Here we are, we are going off on a tag stick to decks.

But an allowance is, um.

Sometimes there are schemes run by HMRC that allow you to claim certain things or certain allowances if they meet strict criteria.

Now we know about the allowances, but that's very much different to us adding fake transactions into your accounts.

Which brings us back onto the software side of things.

Reel you back in, reel me back in.

So if you've spent it, it should be on your bank account and therefore if you've got software, the software will see the transaction.

So we know it's there, you don't miss it, we claim more tax relief.

Short version is basically using Dex over a spreadsheet is quicker and more accurate.

Yeah, because like they said, you could miss stuff off your bank statement, you could miss stuff off your spreadsheet.

Whereas when your banks link to the software, you're not missing anything.

And actually we've had feedback from the clients that have said it is much, much quicker doing it the Dex way than it is them spending hours and hours going through their bank statements, finding their mistakes, typing them in.

Honestly, it'll take you hours.

Whereas once you use dex, it'll memorize what you categorize something as before and redo it for you.

So again, you don't even have to.

Do that other than check it remembers it.

It's smart technology.

So, yes, that is option number one.

Yes.

Sarah, does a question.

Don't know.

Pop that up before we go on to the next bit.

So basically, how does it work for expenses that are only part business, such as your mobile phone, your washing machine, etc.

How does that work?

That's where your accountant comes in.

So you would tell us that information every quarter or we would do it as an adjustment at the year end to add it in as the year end submission.

But where you have part expenses or where you have an expense that didn't go through the bank accounts, like maybe you've paid for something out of cash, you add a bill onto the software and that bill is then included in those figures and it's just as if you paid that bill personally.

So what we would do is your use of home, your telephone and any other partial expenses we would work out at the year end and then we would go into the software and we would add those in.

We then take that information out of the software again, work it in our working papers, put it into a set of accounts for you, give you some graphs and tables to show you how your business is done and then upload that for signature before we submit the self assessment at the year end.

So it's, it's a little bit of a hybrid work because unfortunately whilst Dext is great for simple sole trade businesses, it doesn't have the functionality that as accountants and the information that we give back to our clients, it doesn't allow that to do.

But that's why it's price pointed at where it is.

I don't think that's where.

No it doesn't.

It's limited companies.

So it's just sole traders and property.

I think it does.

Doesn't.

Does property.

Yes it does Property and sole trade.

Yeah.

Yes.

So that's another question.

If, if you have an account do you still need to do this?

Do you mean an accountant or.

Yes.

So if, if you've got an accountant then they will have their own softwares that they're looking to roll out to their clients or encourage clients to go on us.

Us at the pet accountant.

We are looking at Dext, we are looking at Free Agent and we are looking at zero.

So we've just discussed Dext.

What we're going to look at is Free Agent.

Free Agent's my favorite.

Lee hates it.

Zero is Lee's favorite.

I hate.

So there you go.

Like we said before, every accountant is going to have different preferences.

Just because we hate shit books doesn't mean that other accountants aren't going to use it as well.

Because some, I know some accountants that only use QuickBooks for some strange reason I don't know but that is just our personal preference and what we've decided as a company that moving on from April this year we will not be taking anyone on on QuickBooks because from our opinion it's just a bit of a farce.

It doesn't let us do what we need it to do.

And when things go digital we don't want the headache of trying to use.

This things for QuickBooks for us is that the first thing we do whenever we pick up a self assessment of somebody that's on software is we ask for a copy of the bank statement for the year end.

We check that the bank balance matches the software and that and that the bank statement itself is a perfect match down to the penny.

If it's not then we have to do some investigatory work to find out what's gone wrong in the year and try to fix it and QuickBooks is horrendous for being able to do that.

And because of that, the amount of time that it takes and simple things like if we're in Xero, if we're in Free Agent, we can right click a link and open in another page.

So we can work between two screens at once and we're flicking between reports.

QuickBooks doesn't allow you to do that.

So the only way that you can click on a link and view the link is by clicking the link and then you open up the next page.

But if you click Back to go back to the report you was in, it refreshes the screen to the reports page.

So it's frustrating in the use of it and it's time consuming.

And depending on the level of QuickBooks that you've purchased, it locks the software down.

So much so that we can't make mass changes in any one go.

So if you've accidentally done things wrong on hundreds of transactions, we may have to change those on a one by one basis.

Or if you're paying by hour, that's going to cost you a lot of money.

A lot of accountants do charge by the hour.

Yes.

And something that would take an hour on Xero might take three hours on QuickBooks.

But again, like we said, it's just personal preference.

Yes, the accountants will have their preference.

With the softwares, so we will answer the questions in a sec.

But Free Agent is my personal favorite, although sometimes it's not my favorite, but I'll tell you why.

So Free Agent can be used for sole traders, partnerships and limited companies.

It is MDT compliant, so if you're using it, it's fine.

You do get it free with a metal bank account.

Whether they carry that free beyond, who knows.

So maybe it might be good to get it now just in case they decide to change their mind.

I did ask them like two years ago whether they were going to charge people and they didn't say no.

But they didn't say yes.

They have started charging no for the mobile app.

Yeah.

So it probably will come.

And next year all of the software providers will probably put their fees up because it is compulsory.

So they've got the market.

You've got no option but to pick.

So you never know.

They may well start putting their prices up.

And Free Agent is aimed at business owners, so it's not like accountancy jargon.

So all of the tabs and stuff are very easy to follow.

You can get all your profit and loss reports, your balance sheets, your cash flow.

So it's A lot more in depth than Dext.

You can get all of the reports.

However, you can also mess it up.

The downsides of Free agent is the fact if you have more than one bank account, it has an absolute meltdown and it causes a lot of issues.

It also allows people to manually add and delete lines from the bank account, which people do on quite a few occasions, which then also messes the system up and it has a bit of a meltdown.

So compared to Dex, where there's.

You can't really do much wrong.

Yeah, you go on free agent and actually if you don't know what you're doing, you could probably mess it up.

So we have various checks.

When we start, someone's on free agent is check the bank.

We see how many bank accounts they've got.

If you start transferring money between the bank accounts, it has an absolute meltdown.

But people get dates as well, don't they?

They put them on dates wrong in.

And you know you're gonna.

Because you're not accountants.

And that's the thing, it is gonna.

Any software use is gonna be hard to use if you have no idea what you're doing.

But free agent is aimed at business owners, whereas the likes of Xero is more aimed at accountants.

Because it's very technical, I would say anyway, in my opinion.

But Lee's like it's not as easy.

But I like Free agent because of its simplicity.

You can do the receipt capture, although they are gonna start or they are charging you for it and you can only take like 5 or 10p without charging.

So again that's going to come in.

But as far as getting the information that you want, if you're a business owner that wants a bit more info on what your business is doing and where you're going and your profit and what you spend the money on, then obviously that's going to give you that compared to Dex because you can get all the relevant reports.

Yeah.

So it just depends, I guess, where you're at in your business, where you want to be and how much money you're willing to spend.

Because all these different three, I guess, are aimed at different people.

So it's not going to be one size fits all.

It depends on your personal circumstances.

But for me personally, I like using a free agent because it's easy to navigate.

However, it does have its issues as far as clients are concerned with getting a few things wrong.

But like Lee said, compared to QuickBooks, if you would put all your drawings as net salary expense, which most people do, you can find all of them, click a button and change them within about two seconds.

So again, it's got us plus points as far as we're concerned.

I think free agent at the minute is like 20 pound plus.

Yeah, it's cropping up in price.

Yes.

Yeah.

So sometimes we can give software cheaper like Dex, where we can give it to you for a fiverr because they give us discount.

However, with free agent, we used to get a discount but now they've taken that away.

So we can't get you free agent any cheaper than you can get yourself by going direct.

19 pound plus VAT without the offer.

Yeah, but we used to.

We used to get quite good discounts for free agent, but then they got bigger and they took them all away.

I think the discount structure as well, because Eden Xero did the same, didn't they?

They've removed all the discounts that the accountants previously and it's a smart move that they do that now rather than when MTD comes in because then it doesn't look like they're penalizing everybody.

But I think all of the softwares are starting to increase those prices because they know that once you hit the reporting thresholds, you.

You don't really have much of a choice.

And the softwares that you can choose from are quite limited.

And the ones that are more popular out there will obviously gain more clients because they're the names that are being batted backwards and forwards.

So the annoying things, you only see QuickBooks on the telly, you don't see Xero, Fridge and Sage.

Whatever.

It's always bloody QuickBooks.

Yeah, I'm just going to answer to go through a couple of questions because we've got a bit of a backlog.

Okay.

Coastal Dog Walker.

If I use my Starling just for business, which lets me take photos of receipts to attach to the payments, which some banks do, and categorize it, is that enough?

Instead of Dext, I think you thought with that.

Is that indexed?

If we need to check something, we can see the receipt that's attached to the transaction so we can check to see if it's been done correctly.

The only place that your receipt is stored is in your bank.

And the question I would be asking is when you download everything from the bank, do they give you the pictures of the receipts as well or does that disappear when you stop using the bank?

So it's how you access what you've uploaded to that banking app and how easy it is to get that information back.

Now, I know that QuickBooks allows you to upload the receipt to its version of Hubdoc and its own internal versions.

But when you want to download and do a data bulk, I think it charges you if you want all of the transactions with the picture of the receipts, whereas if you just want the transactions, it's free.

But if you want a copy of those receipts, it's extra.

But the problem is you're not going to be able to do the quarterly submissions through your bank.

Even if you're categorizing and adding the receipts via this Starling toolkit thing that they've got.

I'm pretty sure that's not going to be MTD compliant, or I think Lee's going to check.

I'm just checking.

Yeah, because you have to submit the quarterly submissions, which we'll get onto the ins and outs of, actually what you need to do in a second.

But I don't think you'll be able to submit it direct from your bank.

So obviously you've mentioned in your last comment about that you download it, get the figures, put them in a spreadsheet and then put those figures from the spreadsheet into your tax return.

That element is going to be taken away because you have to submit your tax return and the quarterly submissions through the software.

Whereas now, at the minute, you may well go on your government gateway and do your tax return via your government gateway.

Whereas when making Tax Digital comes into place, that's going to be removed and you're only going to be able to submit it through the software.

So anything that you use has to be NTD compliant, otherwise you just won't be able to do it.

And I did find a bit which I messaged you about Lee, but they're going to remove that option entirely.

So once you go above the bracket, which we'll discuss in a minute, you're not going to even have the option to go onto your government gateway and submit your tax return.

You will have to get software.

Have you found the answer?

No.

It says that the one for £7amonth could be an option.

So already it could be an option and it's more than what we're charging for Dext.

And I imagine that a bank as big as Starling are going to charge more than seven quid if it designs a software that MTD compliant is going to be more than £7, I would imagine.

But it's just one to.

To check if you're wanting to stay with how you're doing it with your bank.

It's just one to keep an eye on and obviously Stuff will be coming out from now until April, which if you're in the group, we will keep you updated on as and when we find out.

What do husband and wife partnerships use again?

You can use free agent, Xero, QuickBooks.

Just the only one you can't use is Dext.

So all of the other basic ones will do partnerships.

Right.

Do you want to go on to zero your fave?

So Xero, for me, whilst initially it looks a little bit daunting when you log in because there are a lot of options on there, it is one of the quickest and I would just, I would say it's fairly easy to use once you get around it, but it does, it does look daunting.

It handles multiple bank accounts.

So if you are transferring between different accounts and different savings accounts, it handles it much, much better than what Free Agent does.

It also has the Hub Doc, which is a receipt capture app included with it, which is why we use it.

So what we basically do there, we snap a picture of a receipt in the hubdoc app.

If you're on our bookkeeping package.

Yeah, if you're on our bookkeeping package, we receive that at our end.

The software categorizes most of it.

We check it, make sure that we pull off any additional information like is the category correct, is the VAT treatment correct?

And it pushes it into, into Xero.

Once it gets into Xero, we can actually see that the receipt and all the transaction details side by side before it matches it with the bank transaction transaction.

And it'll highlight on the bank transaction which one it belongs to.

So it cuts down on the errors.

Now the reason that we are an advocate for it is because it allows us as accountants to search for things really, really quickly.

So it speeds up the process of the work that we do, which ultimately means it can be cheaper for you if we're having to correct your bookkeeping.

I can correct thousands and thousands of transactions with a Find and Recode, which will take me two minutes.

Whereas in the, the other software with free agent and QuickBooks would take a hell of a lot longer because you can only do it page five hours.

Yeah, so.

So from a, from a time saving perspective, zero is bells and whistles.

And what you pay extra in monthly fee to zero, you save on accountancy fees and bookkeeper costs because of the way that the software is used.

As a business owner, it gives me reports that I can click into that I can extend over whether I want to look at it daily for a month, whether I want to look at months over the year, whether I want to compare years and years and I can click into the individual transactions to drill down, say, what made up my motor expenses or why was my phone bill so high?

One click of a button, I can see everything that's in that telephone category of overspends.

Yeah, yeah.

And so what that allows me to do is as a, as a business owner, is to review that spending and say, hang on a second, I'm spending too much on this month on month, so I need to stop that.

And actually, my insurance costs have gone up through the roof.

Why did that happen?

I need to find a new supplier so I can review my business much easier and much quicker on this software than I can do on the others.

Now, that is the one major difference with Dext compared to Free Agent, QuickBooks and Xero.

Dext doesn't give you that ability.

So what we're saying is that if you're a simple accounting sole trader business with simple accounting affairs, then Dext is perfect.

But if you want more information, if you want more feedback, if you want to grow your business, then you really need to look at proper bookkeeping software instead, which will.

We can still do the submissions from within the software, but it gives you more insight into your business.

And as a business owner, each and every single one of you should be looking at your figures and you should be thinking, right, my income is down from last month.

Why?

My expenses is up from last month.

Why?

Where am I spending that money?

If you don't understand where you're spending the money, you don't understand how you're going to save more money each month and get more profit and become more profitable to be able to grow the business.

So from that perspective, it's so, so important that you understand your financials of the business.

You know, what are your running costs?

What are your overheads?

Do you need the overheads?

Can you find a better supplier, a cheaper supplier to provide the products that you sell without compromising on quality?

It allows you to ask yourself so many questions that ultimately will dictate how you run your successful business.

And that doesn't matter whether you're a dog walker or you're a manufacturer of shampoo that sells it to dog groomers.

You can ask yourself the same questions, is, what am I going to change next month or next year to get my business from here to here so that I can have more money in my back pocket?

And that's what it's all about, is.

And that's what we do when we do Art of yearly Catch up where we do basically like a business review, we heavily use 0 to go through all of the different figures.

Whereas if you're doing on a spreadsheet, if you want to review your business at the end of the year, it's just, it's just hard.

You're looking at pages and pages and figures everywhere.

Whereas if you have the relevant reports in front of you, like we make decisions at the start of the tax year of what we want and what we're going to do for the next 12 months and that's heavily based of zero.

We don't use anything else, we use zero to do that.

So that's why, another reason why the currency software is important so that you can do that if you're wanting to scale your business, if you're not, you're not asked, then just go on Dext and then you don't have to worry.

It's something's quick, it's done, it takes the boxes off, you go send and you have to worry about it.

And that's why at lot of our bookkeeping clients, well, all of our bookkeeping clients come on board, whether it's for hourly or whether it's part of the all in one package, we always put them on zero because it's just, it is the best as far as that's concerned.

And it'll give you so much insight.

Yeah.

And if, if anybody is on our bookkeeping packages or the hourly bookkeeping, we also give you your quarterly performance packs as well, which indicates how your business has done over the last three months.

And that report is fantastic for you to be able to make decisions for the next three months.

Because if you was in decline, for argument's sake, you can have a look at that report, you can have a look at the graphs, you can see that the profit line is decreasing.

And that might be enough to have a little kick up the backside to say, right, what do I need to change to turn this around next quarter?

Because bearing in mind if you guys are coming to us, the majority of our business is, is sole traders that come to see us once a year at the year end when we do the tax return.

And sometimes like if we're receiving your tax return information like today, when the deadline is in two days time, well.

There'S nothing we can do.

The data is out of date.

There's nothing we can do.

You've already been trading and carrying on since April up until this point.

So we're so far down the line.

Yes, we can give you an Overview of how you did during that tax year.

But it's so out of date it might not even be that relevant now.

So that you can make those changes so that you can turn your business around to really start driving it forward.

Which is why we encourage clients get the tax return in in April, the data's fresh, you'll remember what you've spent your money on.

You know, look at a bookkeeping package with ourselves, get the insight every quarter, really start to drive that business and use our knowledge, you know, and it's not just about the accounts and the figures.

We have other knowledge as well.

We have knowledge around marketing, we know about the softwares within the industry like Tufts, you know and there's others as well.

There's this trackers for dogs as well that we get a lot of clients.

That come in back to us about.

You know, if the dog goes missing.

And so there's things that we can talk about our clients of how they can improve and offer additional services or additional protections to the dogs or the cats along those lines that they would be able to command more money to justify whilst they are the highest priced in their area.

And if you can justify your prices there should be no ceiling limit of what you can charge.

You charge your worth.

And if you deliver exceptional services and you know, and you build that client base and you build a waiting list, then it's time to start charging a little bit more, getting that money that, that like I said that you are worth and.

And yeah, exactly right.

I know I'm so passionate about growing people's businesses.

Like go off on a tangent.

People don't use accountants half as much as they should do.

You know we do get a lot of clients that literally just want to do the tax return and we talk to them once a year.

Although that is going to change next year because we're talking to you four times a year.

But we have so much knowledge that we could help you with your business.

But no one ever really.

Our bookkeeping clients tend to more.

But use us to help you.

Like we're not just here to do your tax return once a year.

Like use us.

We have built a business from 0 to 13, 14 staff and multi six figure business from nothing.

And we each have our own bits that we like to do and that we're better at each other at.

So use like even if you don't use esim, you've got another accountant.

Like use them like they can help you.

So please don't just see an accountant as I'll just Do my tax return, they don't know anything else.

We can help you with all sorts of different bits and bobs with your business and we may have something coming up in the air that will do that.

But I'm not saying anything.

The theme for us as well is we will only take clients on in an industry where we are able to help them.

So for argument's sake, we had an inquiry this, this week with regards to a digital app and unfortunately that's not our forte.

So we, we wouldn't be able to provide the same level of service and the same knowledge to that client that we're able to provide to the likes of groomers, walkers, borders, holistic vet nurses.

You know, that is our forte.

That's what we specialize in, that's what we know.

So for that client we said unfortunately we don't feel that we would be the right fit for your business because we couldn't give you the advice that you need to take that app to market.

So you know, in that terms that's again what separates us out from other accountants is would they have taken that work on and tried to fluff it or would they have been open and honest and say look, unfortunately that's not our bag and we're not the right people to help in that instance.

So we only take people on where we know the industry where we can help and we can provide guidance.

So it's there for you guys to use.

And that's why we do these lives, to be able to help those businesses.

And question how much is zero?

So it's 33 pound plus VAT per month direct with Xero.

If you come to us on a package, it's included in our packages.

And our sole trader bookkeeping all in one where you get your self assessments, your bookkeeping, your reports, the software, the hub doc, quarterly catch up calls, that starts from £97amonth plus that.

So it's not going to break the bank.

But for those clients that are on it, are seeing the benefit of it, if you don't want to go down that route and you just want to join us for your self assessment, the self assessments with DECCS starts from 32 pound plus VAT a month.

So again different ends of the scale depending on what you want.

Nice, nice affordable option or a little bit more money but you get a hell of a lot more for it.

Get a lot more support in the all in one.

Lucy's put.

Hey guys, I've recently spoke to Tegan about moving to free agent at the start of the new tax year, I'll only be using my Stalin business account.

Do I money in and out of my personal account?

That's fine, as long as your personal account isn't attached to it as well.

Do I go to Dex instead because she's coming off QuickBooks and do I cancel the subscription on the 5th of April?

Don't cancel it till we've done your tax return.

That's number one.

Lucy, please don't cancel your subscription until we've done your tax return.

We will tell you when we've got everything and that you can close it down.

So please don't cancel before.

Otherwise we'll not be able to access anything.

It depends, Lucy.

Like you said, if you want the reports and you want more information on your business, then I'd stick with Free agent.

Just don't attach your personal account to it.

If you want easy peasy lemon squeezy, then go down the decks route.

But if you're coming from QuickBooks, I'd imagine free agent you'd probably be better off with.

Yeah.

Right, so this section, which probably, maybe should have started with, is what are the actual T's and C's of Making Tax Digital?

Now this is where it got confused and earlier when we were trying to rack our brains around how they've done it.

And actually it starts now, which we weren't really aware of in a sense of.

I don't know, you explain it, because.

I get myself in a muddle.

Right, okay, so different dates.

So the first rollout of MTD is going to be aimed at clients that are generating sales of over £50,000 a year.

So you turnover.

So the turnover, that's not after expenses.

So that's physically what you're generating in sales coming in at the front door.

So if, if that's over 50,000, you'll need to start doing MTD submissions from April of 2026.

The £50,000 turnover is determined in the current tax year that we are currently in that is going to end in April.

So actually, if you've done 50 grand this, this tax year that runs from the 5th, 6th April 2024 to the 5th of April 2025, then you will be part of the first people that are going to be doing Making Tax Digital submissions from April of 2026.

But we only have what, 14 months before it kicks in?

Yes, but you've already been assessed this year.

So when you do this year's self assessment, I know this is going to be quite confusing because we're Talking about the deadline in two days time.

But that was for the last tax year, the current tax year that we're physically in at the moment.

That ends in April, in two months time, that is.

If you've done £50,000 in turnover, you will be part of the MTD submissions for starting on the 5th of April or 6th of April 2026 and that's.

Sole traders and landlords.

So if you've got a property and your self assessment, your sole trade, then you have to add them together, so make sure you include them.

And then the next one just to confuse you Even more, in April 2027, if you've got a turnover of over 30,000, that's when yours will kick in.

However, that will be assessed on the 2526 tax year starting in April.

Why they do that I do not know.

But there we go.

So, and that again, that is sole traders and property landlords.

Yes, partnerships, because I can see someone's asked for partnerships, has not been given a date yet because I looked earlier of when that going to get rolled out.

Same as limited companies.

So if you're a limited company or a partnership, you don't need to worry quite just yet.

Obviously if you want to get in software and get ahead of the time, then I probably would do, but there's no set date for those two to come in, so it's 30 grand and 50 grand.

However, they have a little note to say they may well do it from 20 grand turnover, but they put to be decided.

There's also another little thing is if you're starting out in business and if your first year's turnover is over 30,000, then you will start doing the submissions Even if the 30,000 hasn't kicked in yet.

So if you're new to business, once you've done your first tax return, the following tax year you will be on the submissions for MTD.

That's, that's if you, if your turnover was 30,000 in the first year.

So again a little bit complex with dates at the moment, but the adoption that I think that we will take, you can opt in to do the submissions voluntarily before we get to those key turnovers.

And I think as an accountancy firm what we would probably do is so that everybody is in the same boat and that we get, get into that, that, that regular rhythm of submitting, if you join us, we would probably do those, those, those submissions anyway just because it makes life easier, you know what to expect going forward.

We're not going to change what we need from you Part of the way through being with us.

And if you're set up from the get go of knowing right, on such and such a day, I need to give you this.

By the 30 days later, I need to do y.

It will make life easier because you become into a regular pattern of things.

And again, from our perspective, we're not thinking right, when did such and such start?

Do we need to do that this month?

Is that next month?

So it makes life easier at all round.

But again, because this system is now designed to stop people from hiding things if you've got nothing to hide and it doesn't matter whether you voluntarily do the submissions or not.

And you know, and from our perspective, we are an honest accountancy firm.

We don't, we don't do things below or under the table.

So for us, it makes life easier.

The clients know what they get and where they are, and those are the clients that we want to work with that want to be on top of their tax affairs, that don't want to be hiding things.

And, you know, we have turned people away as clients before because they said things to us on the phone that is a little bit alarming and not the kind of people you want to work with.

So, you know, it's important that, that any relationship, any business relationship, whether that's you with your clients or you with your accountant or any other, you know, interactions that you have with suppliers, that, that is built on a relationship of trust.

And if, if you're uncomfortable, you shouldn't take that engagement on with the client, with the dog.

It's.

Remember, it's your business at the end of the day and it's your name that's above the door.

We will find out.

Yeah, yeah, we do, we do.

In the past where we've found some questionable things and we've had to part ways, obviously we're going through your figure, so we're bound to find it.

So you can't hide from us.

Jane's put a very valid question.

Will HMRC let people know when they have to go digital?

Yes, they will.

So when you submit your 24, 25 tax return after April this year, if you qualify for that 50 grand, they will send you a letter to say from next April you will have to use accountancy software.

I would be very careful relying on those letters.

And the only reason being, is the way HMRC works is they say these are the tax laws.

As somebody in business and with tax affairs, it is your responsibility to know what you must do.

And just because we didn't tell you that you should have done it, you still should have done it.

And the reason I say that is because the people who had high income child benefit tax charges where they earned over a certain amount had to fill in a self assessment every year.

HMRC should have been writing to those people with letters to tell them that they should have been doing self assessments.

But a lot of people didn't receive that.

So their argument was, well, I didn't know that I had to do that because you didn't tell me.

HMRC's argument was, it was published on the telly, it was published on our website.

You should have done it.

Therefore, the fines are standing and you need to pay us the money because you didn't fill a tax return in.

So, yes, they are going to write to people, they might not write to everybody.

So you must know yourself when it's time to do those submissions.

And that's the same with vat.

They don't write to people to tell them when they need to register for VAT.

You must know that when your turnover reaches £90,000 in any rolling 12 months, you must register for that.

That is the law.

If you don't do that, you've broken the law, therefore you're liable to fines and penalties.

Yeah.

So the moral of the story is, get a very good accountant who will tell you of all these changes or just, you know, make sure you just keep checking HMRC's website, any news and stuff, you know.

We only found out some of that information by researching it again today, because it changes all the time and I'm sure other things will change.

Will they bring penalties out if you don't get the submissions in on time?

Probably.

But again, it's like, at the minute, it's like breadcrumbs of information.

We know it's going to be next year, we know it's going to be 50 grand or over, and we know it's going to be sole traders and landlords.

So if you think you're going to be in that bracket and you haven't got an accountant, then maybe now's the time to do a bit of research as to who you'd like.

Hopefully us.

But if it's not us, fine, we'll cry off camera.

But if it's not us, then just make sure that you get someone that you can trust and you know are legit and are licensed and know what the hell they're talking about.

If you ring up an accountancy firm tomorrow and say, I'm on 55 grand, I'm worried about making Tax Digital and they seem confused and don't know what you're talking about.

That's probably not the right accountancy firm to go to.

So just please make sure that, as we say, always do your due diligence and check.

And if they don't know what you're talking about, probably best put the phone down and move on to someone else.

But like I said, we will keep you up to date with any information as and when we find it, like we are doing today.

But if you haven't got an accountant and you're worried about the quarterly submissions, then please get in touch.

The reason why we're putting most people on software now is to get ahead of the game because we would rather go through all the teasing problems now than go from the 6th of April next year and everyone have a bloody meltdown.

God, don't know what I'm doing.

Which is fines.

Now there's fines and penalties.

Yeah, I was just done a quick zero.

Has actually got a webpage on there about the fines and penalties so late.

A late filing of the MTD submission will get you a point.

If you miss the year end, you'll incur a 200 pound fine.

So, yeah, yeah, yeah.

So once you reach a certain number of points, you'll be charged a penalty.

So, yeah, it is, yeah.

Which.

Which ties into what they've done with vats as well.

So they're now starting to bring everything together.

The point where people will have to pay their tax every quarter, like the vat, you'll do your little mini tax return every quarter and you'll pay the tax based on that tax return.

Yeah, I think that's where the heading.

Bastards.

Yeah.

I mean, yeah, we're like panic savers.

We get to like this point of the air and we're like, shit, we've got money to try and save.

We should practice what we preach, really.

But we're so bad, we're like, oh, shiny things.

And then we're like, have you paid your tax bill?

No.

So, yeah, we should practice what we preach, really.

But there we go, points.

And they're doubling their fine.

It's gone from 100 pound to 200 pound.

But like I said, if they've got 5,000 new staff to pay for.

And you know, someone said to me years ago when I went to one, I think it was Groomfest or might not have been.

Anyway, one of them, where a lady said, I've submitted my tax return.

I'm just waiting for HMRC to let me know if it's correct or not once they've checked it.

And I said, well, you'll be waiting a bloody long time because they don't do that.

However, with this 5,000 new staff, you'll.

Probably find we've already seen that in the increase of.

Where's this, where's that?

You haven't put this on, you haven't done this.

So you need to be on top of your game and make sure that you record any figures properly.

A lot of accountancy firms will be reevaluating their pricing structure depending on what's involved in these quarterly submissions, because yet we don't know what this formal forms look like, we don't know what time implications are going to be incurred with that.

So again, a lot of accountancy firms will be restructuring their price, so you might find that prices go up a little bit.

It's just a nature of the game, unfortunately.

But again, we can't say, oh, we're only going to put up this much because we don't know what works involved in this little mini tax return.

We have to do four times a year, so it'll just be wait and see.

But you can guarantee the software prices will go, accountancy fees will go up, but worth paying for less stress.

I think it's, it's worth noting at this stage as well that we're here to support the businesses and to get the bits and pieces into hmrc.

This week HMRC are actually going on strike for the last two days of the tax year.

On submission day they have got people on strike so that anybody that needs to submit their self assessment and that needs help, that needs to speak to hmrc, you're going to be waiting an absolute stonker of a long time to try and get through.

Our payroll manager tried ringing HMRC yesterday.

She was on the phone for an hour and 35 before they said that they're too busy and they hung up.

So.

And then that's before they go on strike tomorrow for the last two days of the tax year.

So if you are looking now.

Yes, seriously, because otherwise you, you're going to be late if you need information from them.

And the other thing that we're seeing as well is clients aren't declaring all of their income.

So if you've got employed income, we've seen in one of the groups that were part of.

Is it Bug Walkers group or.

It was one of the groups where they said that, you know, do I have to put all of my employed income on, on my tax?

And somebody said no.

And they were like, HMRC already know about your income so you don't have to put it on there.

That is so wrong.

Your tax return is you assessing your worldly income and you have to declare absolutely everything on there, even down to the interest that you're earning in your savings accounts if you don't put that on.

And HMRC is aware that of that information, and they are, they will write to you and say your tax return is incorrect and we have amended it, your obligations is to submit correct and accurate submissions.

If you disagree, you can provide us with evidence and we'll open up a compliance check.

And that basically means is put a couple of hours away for a few weeks because you're going to have HMRC sat there going through your incomes and expenses and all of your worldly income to make sure that tax return was correct.

And then they'll ask you to supply supporting evidence of why you believe what they think is correct is wrong.

So, and we've had that this week as well, where a client accidentally forgot about some, some employed income.

And HMRC wrote to us and basically said, we know about this, why isn't it on the tax return?

And luckily it was a client just basically, basically said, yeah, hold my hands up, I forgot about it.

It's correct.

But that's the importance now of getting all of the information correct.

Though you might have started to see on the news and certainly on social media, circulating people on benefits, HMRC and now accessing people's bank accounts to look at benefit fraud, it's only a matter of time before they start looking at bank accounts for fraud in, in the taxation system.

They know more than you think.

Yeah, they do, they do, they've got, they've got AI that's looking through accounts and other bits and pieces.

They know, what they do is they compare your expenses as a percentage to other people within your industry and they look to see whether or not it, it is in line with others that do your type of work as well.

And if, if yours is massively out, you have a red flag.

That red flag then turns into a little compliance check.

The compliance check turns into a full blown investigation of why your tax affairs aren't in order or if there's things in there that shouldn't be in there.

And that's why when we start saying, well, you shouldn't be putting everyday clothing through, you shouldn't be claiming meals if it's, you know, day to day meals, because these things aren't allowable as business expenses.

And this 5000 compliance task force is going to be doing exactly that.

They'll always be drilling down, your accountant.

Has put all your wellies and trainers and clothes and meals and chiropractors and gyms are going to be sweating somewhat because they know that it's not allowed.

They're just, they're taking the risk probably because they don't want to annoy the client and don't, you know, think, oh, God, so the client's going to kick off, so I'll just put it through.

So there's, there's rhyme and reason behind what we do.

We don't want HMRC knocking on the door.

And when someone put that comment on that group, honestly, I couldn't believe it.

Like she was genuinely arguing with a gun.

Because someone rightly put, no, that's wrong, you need to put it all on.

And this girl that, no, you don't know, you don't.

And like, the girl who would ask the question was, okay, I'll not put it on.

So I had to go on and say, look, this person, you were wrong.

Stop telling people information you don't know and you must put it on your tax return.

So I thought, bless her, she's gonna do it, send it off and then she's gonna get one of those letters which, you know, if you're doing it yourself and you get a letter from hmrc, see that brown envelope, you're a bit like, oh, shit.

And sometimes HMRC doesn't tell you why their records are different, they want you to tell them why it doesn't match.

And what that's doing is that's prompting you to disclose information and you could be disclosing something that they don't know about.

And again, that's.

You've got yourself into more hot water now.

It must be quite an exciting job to work in HMRC's fraud department.

I can imagine that it's quite a fun job, like delving into people's bank accounts and seeing what they do, because people do it all the time.

So we will see.

But yes, moral of this story is look at software now.

Get one that's in line with your goals and your business and where you want to be.

Because like I said, it's not a one size fits all.

If you're worried, if you're in that first wave next year of the 50 grand plus, and you're doing it yourself and you want an accountant, now is the time.

Because it takes a long time to set up, get you on the systems, get you used to the software so now is the time to do it.

So like I said, if you need us, Tegan is our client manager who will do and talk to you if you are sole trader partnership and Lindsay if you are a limited company.

So yes, get on software, ditch the spreadsheet and yeah, there's plenty of offers out there so give us a shout.

And whilst we are talking about making tax digital, going digital, we have updated our digital store on the Pet accountant website.

So we've added some products and we've removed some of the other ones and make it a little bit easier.

And for those of you that bought our handwritten packs last year, the old, yeah the lice pen and paper, the brand new ones for the 25, 26 tax year are now on sale.

You can either download them and print them at home or if you prefer a nice bound book with good quality paper to write all your records on.

They are ready to be purchased.

From today we are going to have them at crafts as well so you can buy them whilst we're at crafts.

All one Saran 58.

Yeah, basically, yeah, yeah, go, go through the front doors of hole one and you'll see us on the right hand side.

We do have limited numbers of the ones that are physically printed so once they're gone, they're gone and they sold really quickly last year.

And the reason we only get a limited number is because we don't know how many is going to sell and whilst the tax is done they, they're not usable because all the dates are tied in.

And if you do like we should.

Do, we'll do a live on this booklet next week and we'll show you what it includes because it is not just a income and expenses.

Write them down Joby.

It is full of stuff.

Plus the secret list of expenses that everyone likes.

Obviously it's not a complete list because the list is endless, but it will give you a list of things that are common to your job role and also how to categorize those expenses which is invaluable if you're doing it on a spreadsheet, if you're doing it on software or doing it in the book, you need to know where to put the various different items that he tells.

You so to classify them as.

Well, yes, mileage log.

It basically does everything you need for a set of accounts.

You can even fill it in, give it to your own accountant if you want, that's fine.

We don't ask them not to copy it though.

Ask them not to copy it.

We don't like people that copy our things, funnily enough.

And that was the worrying thing was that not making it a craft.

Last year were coming up to the stand, picking up the brochures and saying these are fantastic.

What a good idea.

I'm thinking they just stood there taking all of the ideas that we put.

No.

However, the guy that one of the guys that did it was about 70 and was looked like a typical accountant suit Crumbs just.

He just, he just aired like boring accountant.

And I thought well he isn't going to do that, is he?

And he was really rude as well.

He was really rude or trying to.

Tegan was trying to torture him.

He just aired her off, was just looking at the book.

So she slapped, slapped the book down, went get away.

But yes, we will be at CRUFTS Again, Hall 1 right outside the entrance.

We've got a big and better stand this year, so come and say hello if you'd like a glass of Prosecco.

We will have some offers on if you want to sign up with us on the day or if you've got any questions or you just want to come and say hello to us.

If you follow us in the group or follow the podcast which is the Pet Accountant podcast, make sure you subscribe and yeah, just come and say hello.

We are going to try and get some freebies if we can but it.

Looks like initiating the softwares who give.

Us the free stuff are being a bit tight this year.

Although I don't think you've tried Dext.

We might, yes, I haven't Dex stuff but we will try our best best to guess the useless tot that everyone likes at Crufts.

But yes, make sure you come and say hello.

We will be back next week demonstrating our lovely record keeping pack.

Like I said, you can get it on the store or you can get it from us in person.

At Crufts, the use of home calculator as well is also on the store.

So if you are doing your own tax return, this will seriously save you a wedge of money on your tax.

If you work from home and you have a dedicated grooming space or workspace, seriously it will save you more than what you pay for it on the store and you can use it year after year.

So if you haven't got it and you're doing your own, get yourselves on there.

You've got a couple of days left to do your self assessment.

Honest to God, I promise you it will save you some money.

Yeah, it will.

We've had loads of people use it and whereas before they'd put like 200 pound through, then they use the calcium, they put 800 pounds through.

We had a message through on, on the Facebook this, this yesterday before saying, I just want to check this figure's right because it's allowing me to claim five times more than I did last year and it was correct.

So we've, we've, we've really dug down into the HMRC guidance and looked at what we can claim.

We've used some smart formulas, we've laid it out slightly differently and we have allowed you to claim elements of repairs and maintenance to the overall property, repairs and maintenance to the specific grooming space or workspace that you've got there.

And it, it's a manageable and meticulous way of working out what you can claim for use of home and it's provable if HMRC come knocking.

So it really, it does what it says on the tin.

It will save you tax.

So maybe next week we'll do a pet accountant store demo.

Yeah, and crap.

There's a one that I listened on the podcast, but really good if you're watching it on the group.

But it's still, still information that you need.

So we'll do that next week because again, people don't know that we provide these things.

And like I said, we've spent hours and hours putting these together to help you save money.

If you're not using it and you a dog border or a dog home dog groomer, then you definitely 1 million percent need to get your hands on it because it will save you an absolute fortune.

And so please, please get it if you haven't already.

And I think that is it.

But today, because we've still got tax returns to do and we're still waiting on some.

Can you believe it?

Two days I'm going to be.

Well, we've already decided we're going the pub on Friday, so if Mabel Beans is up to it, because she just got spared yesterday, so she's a little bit under the weather, bless her.

But yes, we will be on it like a car bonnet on Friday.

So, yes, guys, have fun.

As always, thank you for listening.

Please subscribe to the podcast and if you haven't already and then you'll get updates.

There's loads of videos on there about bands, about tax, about utilities, like, everything, payroll, self assessments, limited companies, like there's bloody everything on there that you can imagine.

So please, please, please subscribe and go and listen to it because it will help you if you're doing it.

Yourself.

Other than that, we will see you next week when we're full with a chain in our hands.

And it'll be a breezy day next Wednesday.

Right guys, thanks very much.

See you next week.

Take care.

Have a good week.

Bye bye.

Thanks for listening.

If you've enjoyed my podcast, don't forget to subscribe for me.

And if you want to speak to me, please visit my website@www.petaccountant.co.uk.

and if you'd like to join my Facebook group which is full of like minded pet professionals, then search Accounting for Pet Professionals in Facebook book and I will see you there.