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.

Hello, hello, hello everyone.

Happy Friday.

It's more me again, Vicky from the Pet Accountants, which is an accountancy firm dedicated to helping pet businesses everywhere in the uk.

And that's my official introduction to every podcast.

You're probably wondering where Lee is.

He hasn't left me, don't worry, he is still here.

He's just very busy and he's actually on annual leave today.

So you have got little old me and today I thought we would have a catch up.

Those of you who listen to this via the podcast or just the Facebook page, we do actually have a Facebook group as well.

This goes into which is called the Pet Professional Business and Finance Hub.

A short name and that group has been specifically designed to help you guys get the correct answers to your tax related questions.

So please, please, please join the group if you haven't already.

Because we do answer questions in there and we make sure that you get the right answers.

Because that's why I made it in the first place, because I was sick of seeing the wrong answers in all the different Facebook groups.

So I thought I'd do one myself and then that way you guys can make sure that you've got the correct and up to date information.

So make sure you check that out.

The Pet Professional Business and Finance Hub.

And if you've got any suggestions of shorter names, they are welcome to please let me know because it is a little bit wordy.

Right, so what have I been up to?

Right, Expo updates.

If you don't know, we have produced the first Pet Pro Expo conference of the year ever in the UK and it's been held next week on Saturday 15th November and we have a massive lineup of guests.

The in person tickets have been sold out, but if you do want an online ticket because it is being streamed live online, then you can still access those.

So if you check out the Pet Pro Expo Instagram page, there is a link to buy an online ticket.

99 quid business expense.

And we have a lot of people lined up to give you various different seminars.

For example, we have the lovely Bill Betts who's doing one on Mindset, we've got Karen Fisher who's doing one on Goal Setting, we've got Helen Mottram who's gonna do a chat and work Life Balance.

We've got Robin Waite who's gonna do one on pricing.

We've got Romany, who's the finance woman.

She's gonna be doing one on pensions and income protection.

We've got marketing, we've got social media by Charlotte Perrott, obviously me.

And they're gonna be there doing stuff on your numbers.

So there is a huge lineup.

So.

So please check it out if you haven't heard of it.

Pepperell Expo.

Those of you who are attending in person, you are going to get a very first sneak peek.

Look at the very well designed by my lovely team goodie bags.

Because everyone loves a goodie bag.

And this is what we came up with because I wanted something a bit old school.

So rather than having like a paper bag, I thought we'd have like when you were kids and used to go swimming bass and you would get a little swimming bag to put your little swimming cosine swimming hat in.

And that's the vibe I'm going for.

So let me know what you think.

To our lovely Pet Pro Expo Goodie bags.

Look how fun they are.

And you can reuse them if you want.

Do your Aldi Big Shock or Aldi Small Shock.

It's quite small.

So make sure.

Look at these.

Tell me what you think.

Guys, I was a pattern went into that logo hours.

But yes, everyone's getting one of them and I'm not telling you what's in there.

You'll have to wait and see on the day.

So that is coming up on Saturday the 15th.

So we'd be very busy behind the scenes chatting about that and getting everything organized because it is very logistical and very, very hard to put together was I found out.

But we're there next Friday, Saturday even so.

So also coming up at the end of the month, which is probably more talked about than the Expo, is our delightful budget, which is the end of November.

And there has been lots of rumblings about what the lovely Rachel Reeves is going to do or not going to do.

And we will do a live after the budget to go through, things are going to affect you guys the most and explain them in further detail to help you guys out.

So we will do a budget one afterwards.

Excuse me.

So keep your eyes peeled for that because that I think by the sounds of it, is going to be a very interesting budget, especially for small businesses.

There is chatter.

I mean, again, this is just stuff that you hear online.

We don't know how true this is, but there is chatter that they're going to lower the VAT threshold After putting it up, I've read somewhere that she's thinking of lowering it to 30 grand.

I don't know how true that is.

So don't hate me.

I'm just going off what's on social media.

But there is chatter about that.

There's chatter of her putting income tax up and also the charge per mile on electric vehicles.

So it may be that everyone gets screwed over on the end of November, but we will just have to wait and see what she does.

And fingers crossed she doesn't start lowering the VAT threshold because I feel like that's going to put everyone into chaos.

But fingers crossed, but we will give you guys an update on that afterwards.

So don't panic if you don't understand the budget or it goes over your head a little bit.

We will be sit watching it the thrilling hours because last time she did it, it took her about four hours before she actually got to the point.

So we will sit and watch a few hours, you guys, and then me and Lee will do a live afterwards and go through all of the important points and stuff that's going to affect you guys.

So that will be coming up at the end of November.

An update on us.

Our books are closed for 2425 tax year because we are full to the brim and we are not an accountancy firm that takes everybody on willy nilly and and just says yes to everyone.

We'd like to afford the care and attention to the clients that we currently have and make sure that their self assessments are done thoroughly like everyone else.

So at a point we have to shut the doors because our staff can only do so many.

So unfortunately at the moment our 2425 books are closed and we will let you guys know when they reopen.

Um, which potentially might be January, but we'll let you know if it's any sooner.

You can still come on board of this for 2526, that's absolutely fine.

But if you need your 2425 doing, you will have to go somewhere else.

But we do have a wait list as Tegan says.

So if you want to get on the wait list and you want to risk us doing it and having the time to do it, then please let Tegan know.

But unfortunately at the minute our 2425 books are closed because we want to make sure that we get everyone's done in time and that they get the care and attention that they deserve.

So we will keep you posted on that.

We've had a lot of questions on use of home and we get this question a lot from our clients about what they can and can't claim for.

If you are a client of ours, we already use the utilities calculator that you can buy online.

So if you are a client, please don't feel the need to buy that, because we use it anyway as part of your account.

But if you're not a client and you have no idea how or what to claim for, as far as your use of home is concerned, please, please, please get the calculator, because that's why we've built it.

Sometimes the standard amount of £312 doesn't really go far if you are a home boarder, a home boarder or a home groomer, for example, because you're going to use a lot more electricity, water than then £312.

And that's why we built the utilities calculator.

So please, please, please get it if you're not sure, because that can save you a lot of money in tax, because some people have, you know, only been claiming £312 and then they use the calculator and realise they could claim £1,312, which makes a massive difference to your tax bill.

So please, please, please get that if you are struggling, but please remember that you can't claim, or if you do claim, 100% business use of a room in your house, then subject to capital gains.

So please, please, again, be careful with your use of home, especially when it comes to the borders.

Because I know from speaking to our clients, when we get the, our questionnaire back, they'll put, you know, 100% use of the kitchen, 100% use of the living room, 100% use of the bedroom.

You've got to be very, very careful that you don't do that, because if that room was 100% business use, then you're going to be subject to capital gains in the future.

So please, again, be careful when you're filling in that questionnaire and filling in the utilities calc, that you don't do it 100%.

A bit of a controversial one.

It's difficult for homeboarders.

And again, we get this question a lot.

You know, just because the dog is in your living room, when you're in there watching Emmerdale, it doesn't mean that you can claim that room for 90% use, because just because the dog's there, it's not increasing how much electricity you're using.

It's different if they're in a bedroom and you haven't to put the heating on because the dog's in that bedroom and it wouldn't be used normally, then that's absolutely fine.

But just because the dog's lying next to you on the sofa is not increasing your electricity costs.

So you can't put that.

That ruins you 99% of the time because it just wouldn't make sense.

So again, just be careful of that.

And that is something that does crop up.

As Tegan said, we are taking on limited payroll bookkeeping clients.

So this is just for self assessment.

Now, book supplements, just to clarify that.

So, yes, buy the utilities calculator if you're a.

A groomer from home, a boarder from home, if you do any business from home, if you're a dog walker, for example, that doesn't really spend much time at home, then please don't buy the utilities calculator because you'd have to claim the standard fee of £312.

If you're a dog trainer and the majority of your training is outside of your house, then don't buy the utilities calculator because it won't be useful.

You'd need to claim the flat rate.

So only if your job is from home, at the home boarder, a home groomer, will that utilities calculator be useful.

And there's other stuff on there.

We understand that not everyone can afford an accountant, so there's resources on our website that can help you do it.

So please go and check out thepetaccounting.co.uk, because there's other stuff on there, like bookkeeping, spreadsheets, free agent guides, business courses for new businesses.

So there is stuff on there that we've made to help you guys out if you can't afford an accountant.

So please go and check those out.

This isn't the sales podcast podcast, just letting you guys know that they exist, but the utilities calculator is definitely one that's helped people save a lot of money.

And also the tax calculator as well.

Another point just to cover.

Obviously your tax deadline is creeping up on the 31st of January next year, and weirdly, we're not far from that, which is quite scary.

So please get your tax returns done.

Like early doors, get them done and dusted, because those of you who are doing them now, you're only leaving yourself a couple of months to save and plan for that tax bill, whereas you're getting done in April, you've got yourself a lot longer to plan to pay that tax bill than doing it in November, December.

So don't you know, cut yourselves out, get it done.

Early doors in April.

But the deadline is 31st January 2026.

If you started your business.

And again, we've had a lot of influx of emails on this.

If you started your business after April 2025, then you don't need to do a tax return by January.

These are only for people between the April 24 and April 25.

Okay, need to do a tax return.

So if you started your business yesterday, your tax returns are not during January.

So don't panic.

It's just those who started in the 2425 tax year.

Anyone after April, you don't need to worry about it yet, so don't panic.

Because we've had quite a lot of influx of emails from clients going, oh, no, I didn't realize is fine.

Only for those that start between April and April 24 or 25.

So yes, just you guys, 31st of January to submit and pay your tax bill.

If you're one of those does leave it like now or leaves it till December, January and you can't pay the tax bill.

That is one thing the HMRC are good at and that is payment plans.

So again, don't sit there and go, oh God, I can't pay, I'll just pay it off in chunks because if you don't let them know, they will charge you late filing late payment penalties.

So make sure you call them up if you can't afford to pay it and they'll put you on a payment plan nine times out of 10.

And that is something that they're good at.

So again, please, please, please utilise that service if you do fall into that bracket.

This is why we always try and encourage clients to get their records in in April, because it just gives you a bit more time and space to get everything sorted.

We have an internal deadline of the 31st of October that I would say probably 80% of our clients adhere to and the other 20%, we're still waiting on their records and we'll probably get between now and January.

If you're one of those people, please, please, please get it to us asap, because the longer you leave it, there's a chance that we might not get it done in time if you give it to us on the 15th of January.

Because tax returns take time.

Contrary to belief on some of the social media groups where people say, oh, my tax return took 10 minutes, our tax returns don't take 10 minutes.

And they can take a bit of time, especially if you've got other Employment things, so please get it to us asap.

Which leads me on to.

Got a little list here, things I want to chat to you guys about, because some of it is relevant to the time of year, like Christmas parties.

We are organizing our Christmas party, which is always tricky because we have people here in Northumberland, we have staff in Carlisle with Lee, we have some in Birmingham, some in Edinburgh and some of Wales.

So it is a tricky time, but we've managed to organize it.

Which leads me on to a lot of questions that we've seen in the group about what you can claim for what you can put through.

So I just wanted to do a little recap on that as well.

So if you have employed members of staff that are on the payroll, you can have a Christmas party and you can have up to 150 pounds including VAT for each staff member.

Now, that could cover food, it could cover transport, it could cover accommodation, but just don't go over that pound 150 per person, including the VAT.

If you have subcontractors, however, or freelance staff, or however you want to word them, but they're not on the payroll, then unfortunately that is not an allowable expense and you can't have 150 pounds.

So if you have, for example, five staff members that are on the payroll and then you've got poor Sandra who isn't on the payroll, then poor Sandra is going to have to pay for her own Christmas dinner.

But the rest of them are covered in that 150 pounds.

So that is a big, big difference.

We've had a lot of questions on the group about that.

With subcontractors, if they're staff, £150 including VAT.

If they're subcontractors, then unfortunately they are not included and they'll have to pay for their own Christmas party.

So sad on Sandra, but yay for everybody else.

Sorry, if you call Sandra, it's just a name I clocked out of thin air, but we're fine.

Also, just to note, if you are a director of a limited company, you can give yourself six lots of £50 or £300 in total as a little boosty bonus.

But these can't be alcohol or food, basically, so you can't buy yourself a nice 300 pound bottle of whiskey, but you can give yourself six lots of 50 quid, so 300 pound in the tax year.

And again, if you have members of staff, you can give them gift of up to 50 pounds, but again, not alcohol or biscuits.

Another question that we've had around the Christmas gifts.

Can we give clients presents and are they tax deductible?

And the answer is yes, as long as they have your logo on or telephone number or details.

For example, if you wanted to give each client a little cone of dog treats that is allowable.

As long as you put your get like a sticky label with your logo and details on.

You put that on that cone of treats, then that becomes allowable.

Again, no booze, chocolate, biscuits or anything like that.

As long as it's got your label on, you can't expense it.

You can't just go out and buy something, give them to clients as presents, got a heavy label on because then there's classes, advertising rather than entertainment.

So again, please be careful of that.

Go and get yourself some sticky labels from Vistaprint, they cost like 20 quid, get yourself some nice little bags, stick the label on and then you can give some gifts to clients.

Again, another one that's sort of related to that is going out for coffees with potential clients or clients is not allowable.

Your coffee is, that's absolutely foreign.

But your coffee for your client or potential client is not allowable.

So make sure you're careful when you're doing your records with that and you don't get caught out.

But staff members, yes, subcontractors know 150 pounds a year for your staff members, that's including that and please don't go over that because then it becomes more tax implications.

Directors, you can give yourself 300 quid, six pounds, 50 pound vouchers.

I think last year I did two week vouchers to help pay off one of my holidays.

And you can get your clients presents for Christmas as long as it's got some sort of logo or advertising on there so that you can put them under advertising.

So make sure that you do that if you're going to give some presents away.

I think we had a couple of questions around flowers to clients whose dogs might have passed away.

Again, that's fine.

We would argue that of HMRC all day.

And yeah, so that's some little Christmas bonuses.

So if you're planning on taking this stuff out for a little Christmas dinner, you've got 150 pound per head which can be used anytime in the air.

It doesn't have to be a Christmas party, it could be a summer party.

But as long as you don't go for that 150 quid, you will be fine.

So that is Christmas gifts and I think I've talked about everything.

Is anyone got any questions?

Anyone that's listening.

Again, if you have any questions, if you're watching this on a replay, just let us know by saying hashtag replay and pop any questions in the comments because we always look them up.

These lives again, always get put onto our podcast on Spotify, which is called the Pet Count Podcast, and they are released every Monday.

Hopefully we will try and do one every week up until Christmas and.

But as it gets a bit more busier, we might only do a couple.

But they are released on Spotify and on the Facebook group and Facebook page for 30 days before Facebook gets rid of them.

But yes, any questions, pop them in.

And as I say every week, if anyone has any topics they want us to discuss specifically, then please let us know.

We're more than happy to do it, but, you know, use the resources available to you.

We've got a free expenses guide on the website.

And so if you head to our website, thepetaccount.co.uk, there's a free expenses guide which goes through all the common expenses we'd expect you guys to have.

Oh, Tegan's just put it on there, as I said it.

How spooky.

We do have an expenses guide.

Yes, it's free to download from the website, so check that out.

If you're really stuck, get an accountant.

Just do your due diligence first and make sure they are the right fit for you because you need to be able to speak to them, which I say all the time.

So just make sure you do your necessary checks and try and get it done in April to leave yourselves enough time, like so, use the resources that we've gone out there on the, on the website, the utilities calculator, the tax calculator, which tells you how much tax you're gonna have to pay.

And like I say, there's bookkeeping, spreadsheets, bookkeeping, booklets, there's all sorts on there that, you know, if you can't afford an accountant, then get the resources that are available to you to help you guys out.

And if you're planning a staff part, you've got 150 quid ahead.

And again, if you're planning on giving gifts out to clients for Christmas, just make sure that you put your little sticky labels on them to make them allowable under advertising.

And I think that's it for me.

And next week, I think me and Tegan are going to be on just giving a little bit more info on the Pet Pro Expo, which is coming next Saturday.

Like I said, there's still online tickets available.

It's going to be live streamed, so if you're going to get FOMO then please grab yourself a ticket to that because it's going to be very, very good day.

Very much looking forward to it.

There's a lot of people coming on the Friday night as well, so hopefully we won't be too hungover on the Saturday to do it.

Me and Tegan are hosting that, so we'll talk about that next week and then the next one will probably be on the delightful budget to see how much we're gonna get screwed over, but we will update you on that as we get more information.

Other than that, guys, it's Friday afternoon.

Hope you have had a and we've got lots of nice things planned for the weekend and those of you coming to the expo we will see you next Saturday or next Friday if you come in a day early for that.

And yeah, we'll catch up next week guys.

Thanks for listening and have a good weekend and we'll see you soon.

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 at www.petaccountant.comcouk.

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 and I will see you there.