Foreign.
Speaker BAnd welcome to the Pat Accounting Podcast with me, your host, Vicky Clark.
Speaker BI'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.
Speaker BSo let's get going.
Speaker BHello, everyone.
Speaker BWelcome to this week's life.
Speaker BWe are back together finally after, I think probably it's going to be at least four or five weeks since we've done a joint one.
Speaker AYeah, well, absolutely.
Speaker AYou had a family, didn't you?
Speaker ASo I couldn't come on last week.
Speaker BWe did have Fanny on last week, that's why.
Speaker BWas Fanny last week or was she the week before?
Speaker BI can't know.
Speaker BIt's Carly last week.
Speaker ANo, Carly last week.
Speaker AYou had fanny the week before.
Speaker BI had.
Speaker BFunny, the week before.
Speaker BLee just couldn't help himself.
Speaker BBut get that in already.
Speaker BWe weren't even up to that point yet, but there we go.
Speaker BWelcome, everyone.
Speaker BLet me just.
Speaker AI now have Leighton in stitches in the corner here.
Speaker AHe's looking.
Speaker BCouldn't help himself.
Speaker BHe's a child.
Speaker BBut let the adults just do their adult stuff first and then we will get cracking with what we're gonna talk about this week, which has been really organized because we just decided 5 minutes ago what we're going to chat about today.
Speaker BBut they're always the best ones when we go off on a tangent.
Speaker BRight.
Speaker AThey're the most formative ones because I don't want.
Speaker BI feel like sometimes when we have a topic.
Speaker BOh, it's already shared.
Speaker BHow did that happen?
Speaker BSometimes when we have a topic, I feel like it's not as fun.
Speaker AYeah.
Speaker AWhen we've got a spring flowing.
Speaker ABecause when we know we've got to say something, it's difficult.
Speaker ASo.
Speaker BSo we're just going to wing it today.
Speaker BBut we have got some updates.
Speaker BRight, Admin.
Speaker BDone.
Speaker BRight.
Speaker BWelcome, everyone.
Speaker BIf you've just joined the group because there's been a lot of people joining the group from the expo side of things.
Speaker BAnd my name is Vicky and this is my sometimes handsome business partner, Lee.
Speaker BAnd we run.
Speaker BI just thought I'd change it up.
Speaker BWe run the Pet Accountant, which is an accountancy firm dedicated to pet professionals all across the uk.
Speaker BThere we go.
Speaker BIt's my little plug for the day.
Speaker BAnd we do lives pretty much every week.
Speaker BSometimes we have guests, sometimes it's just us two.
Speaker BAnd we talk about tax topics to help you through your day and to get your tax return done correctly.
Speaker ABusiness stuff as well.
Speaker BGeneralized business stuff.
Speaker BWe are more than a one trick pony.
Speaker BWe can do sales, we can do marketing, everything.
Speaker BWe can do all sorts.
Speaker BSo we can help you.
Speaker BAny web design, logo design.
Speaker BYes, New.
Speaker BOh, that could be an update.
Speaker BThat could be an update.
Speaker BBut firstly, big update from hmrc.
Speaker BWell, this happened maybe a few weeks ago, but I don't know how live it is with what we've heard on the.
Speaker BGreat.
Speaker BFine.
Speaker BAnd if you've ever heard of the phrase stitches.
Speaker BNo.
Speaker AWell done, Vic, well done.
Speaker AYou're doing so well up until that point.
Speaker BYeah, yeah.
Speaker BSnitches get stitches.
Speaker BWell, HMRC are reversing that and it's now snitches get $.
Speaker BBecause they are bringing out.
Speaker BI don't know when we just heard this on the grapevine, but they are bringing out basically if you know companies that are diddling and individuals, well, individuals that are diddling are not paying the right amount of VAT or not paying the right amount of tax that they should be.
Speaker BMaybe they're taking cash to avoid it.
Speaker AEtc, they're just not registered or they're.
Speaker BNot registered, whatever, any of the above.
Speaker BAnd then if you snitch on them to HMRC and HMRC investigate them and claw a lot of money back, then you get a percentage of the money that they claw back.
Speaker BSo there you go.
Speaker BSnitches don't always get stitches.
Speaker BThey get paid.
Speaker BThey get paid.
Speaker BSo there we go.
Speaker BSo that's maybe HMRC's new way of finding out who's Dublin.
Speaker BSo just be careful if you are taking cash payments and things like that.
Speaker AThat you shouldn't be paying your members of staff cash and not declaring employees.
Speaker BYeah, just be very careful who knows about it, because these snitches are going to get paid.
Speaker BSo if you suddenly see your employee driving around in a Lamborghini and they've quit, they.
Speaker BThen you know what's happened.
Speaker BSo, yes, just be, just be careful of that.
Speaker BAnd if you know anyone and you want to snitch and get some money, then there you go.
Speaker AI think one of the important things there is like people always worry about the, the, the, the money that they have to save for tax.
Speaker ABut I always tell clients, look, don't worry about tax.
Speaker AThe idea behind tax is you only pay tax if you're doing good with your business.
Speaker ASo your main focus should be building your business, you know, make, making money, making profit.
Speaker AIf you're making profit, then yes, you do have to pay tax, but there's a reason for it.
Speaker AIt's because your business is doing so well.
Speaker ASo focus on growing the business, not about the tax that you have to pay.
Speaker BAnd the same comes to the vat.
Speaker BI think a lot of people hit the VAT threshold or go near it and go, oh, I'm not gonna.
Speaker BI'm gonna not do it anymore.
Speaker BI'm gonna not take on any more clients or I'm not going to increase my prices or I'm gonna just try and stay underneath.
Speaker BWell, that's kind of counterintuitive because you've.
Speaker BObviously, it's working.
Speaker BCarry on through it and just ride the wave.
Speaker BWe have so many clients that get stressed about the fat and then once they've hit it and they've gone through it, they're fine on the other end, you might lose one or two clients, but really, you'll just fill the space anyway.
Speaker BSo, yes, that is our tip of the day.
Speaker BSnitches get money, snitches get a Lamborghini.
Speaker BOur next on our news agenda, and I have motherfour papers here.
Speaker AWhat would you like?
Speaker AThe news at 10.
Speaker BThe news at 10.
Speaker BNext on my agenda.
Speaker BBreeding.
Speaker AWe started with Fanny and now we're on to breeding.
Speaker BTo breeding.
Speaker BSo we've been doing a little bit of internal CPD on breeding because HMRC are cracking down on it.
Speaker BAnd if you are breeding, then you may have got a letter from them to disclose all of your cash monies that you've made.
Speaker BMaybe you haven't done it before, you've had a few litters, you've had one litter, but because they are cracking down on it, we've been doing a bit of internal research and putting stuff together.
Speaker BSo just make sure that you are claiming the things that you should be and that you're not claiming things that you shouldn't be.
Speaker BAnd there's a lot of rules and regulations whether your dog that you have as a pet, whether it's stock, you know, whether you're just showing it because you're showing off your grooms, or whether you're showing it to increase the price of your litter.
Speaker BThere's lots of intricacies around it, so if you aren't sure, then please get in touch with us if you're looking for an accountant, because there'll be a lot of accountants out there, like general ones, that may not know what can and can't be claimed for.
Speaker BAnd HMRC will be looking at these because it's hot on their agenda.
Speaker BSo we've got to make sure that.
Speaker AWe get it right now what HMRC are looking at.
Speaker AAnd I know a lot of the breeders come forward and say, well, I don't do it to make money.
Speaker AUnfortunately, if you're doing it on a regular basis, whether or not you did it to make money or not, the idea behind it is, is that you were doing it to generate income.
Speaker AWhat profit you took from it is kind of irrelevant because the moment that you've sold more than a thousand pound in puppies now with some of the breeders that we come across with the champion studage and all the rest of it to do with the dogs, that, that thousand pound can easily be made with one pup.
Speaker ASo once that thousand pound threshold in, in revenue and as in sales, not profit sales has been reached, you must register and pay the back taxes on any litters that you have.
Speaker ASo it's, it's really, really important that if you do regularly breed and it wasn't an accidental litter, and, and you know, if, if there's a reason for you doing it multiple times a year, you, you must pay the tax on, on the puppies and any profits that you have.
Speaker AWhich is why it's really, really important to get yourself a good accountant that understands the breeding background, the costs that are associated with it, how to treat the pups, how to treat the mum.
Speaker AThere's, like Vic said, there's so many complex areas with this and it's like a rabbit hole going down.
Speaker AHmrc, they want the money for them, but they have not yet put together definitive guidelines of what they'll happily accept or disallow as allowable expenses for tax relief purposes.
Speaker ASo you've really got to be on top of your game, knowing what you can and can't legitimately claim and you have to apply the rules that HMRC has to other areas of, of UK business law and expenses to, and apply it to a puppy when it's not necessarily obvious.
Speaker ASo get yourselves a good accountant that knows the industry, that knows what they do when it comes to, to litters.
Speaker BWe've got a good question here from our lovely Sandra Gibson.
Speaker AYeah.
Speaker BWhat happens if a litter takes you over the VAT threshold as a one off in a year?
Speaker ASo if you go over the VAT threshold, depending on the circumstances around it, you can apply for an exemption, not to register with HMRC's VAT team, but you still have to submit that exemption to them and they will say yay or nay, whether you can or can't.
Speaker AIf they come back and say no, you've breached the threshold and you've got to register for VAT and you have to charge that on the sale of the puppies.
Speaker ASo that's really important.
Speaker AAnd you remember if you're a sole trader or you're a partnership and it's.
Speaker AAnd it's a single entity and that that entity's combined income breaches the threshold, then any businesses you have.
Speaker ASo frogness sake, if you're a sole trader and you have a grooming business, but you've also decided to breed puppies as a sole trader, the income from both of those businesses combined is added together to look at whether or not you've exceeded the VATS rate threshold.
Speaker AAnd if you have exceeded the VAT threshold, you charge VAT on the entirety of the sales, not just in one aspect of the business.
Speaker ASo you've got to be really, really careful with that.
Speaker AThere are ways that you can avoid it, but it's important that you speak and seek to an accountant's help before you have the litter, before you go down that route, because trying to split something at the back end of it once you've exceed the threshold is highly illegal and you shouldn't be doing it and it has to be a good commercial reason of why it's being done.
Speaker ASo really, really important there to, to seek help and guidelines before you go down that route, not try to backpedal, because it's much, much more difficult.
Speaker BSo I'm just said, can I do it in advance?
Speaker BWhat is the VAT sign?
Speaker ANo, no.
Speaker ASo it's a case of you only apply for the exemption once it's happened, because they're going to ask you the date at which you went over the 90,000 pound registration.
Speaker ASo you, you will only know that if it's going to happen within the next 30 days, you can do it.
Speaker ABut if it's going to be further than 30 days, then you can't.
Speaker BSo just get in touch.
Speaker BSandra, give Michelle a call, drop her an email or one of us and we can talk you through that if you're going to have a litter.
Speaker BSo, yeah, just give us a shout on that one.
Speaker BThank you very much for your question.
Speaker BRight, that was breathing done.
Speaker BRight, what's next on our news agenda?
Speaker BMTD letters.
Speaker BNow, we have touched on this prior, but it was quite a while ago.
Speaker BObviously you have heard us harp on about making tax digital for a while.
Speaker BIt is coming into play next April and anyone who goes over the 50 grand turnover this tax year that we're doing now, the 24, 25, then you will get a letter from HMRC to tell you that you will have to use a accountancy software as of next April.
Speaker BSo please, please, please keep an eye if you're doing it yourself and your turnover is 50 grand or more, then you will have to go on accountancy software if you're not already and just make sure that it is making tax Digital MTD compliant because if you get it and it isn't, you're gonna have to shift again.
Speaker BAnd not all of them are.
Speaker BThe main ones are like QuickBooks, zero free agent dexterity.
Speaker BI think even Lloyd's a brought one out that apparently is MTD compliant.
Speaker BSo they'll probably start coming out the woodwork, I'd imagine.
Speaker AYeah, the next few months.
Speaker AIt's important again that this is turnover, not profit.
Speaker ASo if your turnover is 50, regardless of what profit you make, if the turnover is over £50,000 in the tax year that's just ended the 24, 25 tax year, when you do your self assessment for it, if your turnover is more than 50, you will need to report your income on a quarterly basis to HMRC from the start of next April via like Vicky said, via MTD software.
Speaker AWe have packages available where we can help with those sorts of things.
Speaker AWe also have DECC subscriptions available which is mtd.
Speaker AWe're in the process at the moment of putting a help video together of how to use decks a little bit more efficiently so that clients get access to the free user guide so that it'll just help them a little bit further along to, to keep those records and if your records are good, it helps us out as well so that we can submit those MTD submissions to you with which with a lot more ease.
Speaker ASo yeah, lots to, lots to look out for this year when it comes to mtd.
Speaker AAnd I think as we get closer and closer to it, HMRC is going to start releasing a hell of a lot more information because it's a little bit scarce, still on the ground with things and me and Vic's done a, like a training session with free agent.
Speaker AWe had free agent come in and we've done like a, a zoom training session where they've gone through their offering on the software.
Speaker AParts of it's easy, parts of it's not so easy and it really is dependent on, you know, if you've got property that adds another complication into it.
Speaker ASo if you, if you're a landlord then you have to report that as on NTD as well and that gets added into your sole trader side.
Speaker ASo lots of little areas that still need a little bit of polishing but we are up to date on it, we do know about it.
Speaker ASo if you are worried, reach out to us, send us a message and we'll let you know what we know at this, at this present moment in.
Speaker BTime and we'll keep you updated.
Speaker BAnyway, if we find out a chunk of information, we'll do another podcast on it.
Speaker BAnd that 50 grand does include, like Lee said, if you've got a rental properties, your landlord landlady income isn't combined with that as well.
Speaker BSo just be warned, if you do have a rental property, you've got to add that in as well.
Speaker BBut yeah, we will keep you updated on that.
Speaker BJust make sure that you keep an eye out for that letter.
Speaker BAnd it'll probably be 50 grand or more next year then I think it's 30 grand or more in 2027 then I think the idea was by 2029 everyone will be on it unless they change their mind again, which is can sometimes highly be like, I don't think.
Speaker AIf you're a client of ours, we are as we're doing your self assessments, we are making a note of your turnovers as well in our internal systems so that anybody that we know this is over 50, we will be sending out reminders too as well, as well as hmrc.
Speaker ASo if you don't receive their letters, don't panic.
Speaker AYou'll also have us to remind you that you are going to be going email.
Speaker BAs you know, we will send you an email to let you know if you have hit it.
Speaker BAnd if you're not on software, we will give you a nudge because you need to do it.
Speaker BIt is compulsory, it's not optional.
Speaker BWe must stress that it's not us, it's not our decision, it's a HMRC legal decision.
Speaker BSo you have to go on software.
Speaker BThere's no if, buts or maybes.
Speaker BSo that is mtd.
Speaker BAny questions, please pop it in the comments.
Speaker BRight, next on my news at 17 minutes past 1.
Speaker BWe have got Fanny on our website every time.
Speaker BGets us every time.
Speaker BIf you'd like a bit of context around that.
Speaker BIf you are listening to the podcast.
Speaker ASay there Vic, not gonna lie.
Speaker BWe had the lovely Fanny Smith on as a guest a few weeks ago and she's a money mindset coach and she's also one of our trusted partners and she is on the website with links to everything she does and that she offers and I would highly recommend you go and check her out because of courses are good, especially if you have any issues around money and finance and things then her courses are well worth having a look at.
Speaker BSo please go on the website and Check Fanny out.
Speaker BYou can't say it in any other way.
Speaker BIt's.
Speaker BIt's always going to be a little bit funny.
Speaker BFanny is also coming to the Expo in November and is going to be doing a chat on Money mindset.
Speaker BSo she will be there if you want to meet her in person at the Expo in November.
Speaker BI don't think she's being released as a guest yet officially, but she is, so she is one of the 13 guests that we have on the day.
Speaker ABrilliant.
Speaker BSo go and check Fanny out.
Speaker BThere we go.
Speaker BIt's gonna be interesting when I have to introduce her on the stage at the Expo.
Speaker BI've had so many phrases go around in my head, there's nothing I can say that isn't.
Speaker BDoesn't sound rude.
Speaker BThis is no way around it.
Speaker BThere's.
Speaker BI cannot.
Speaker BUnless I just call her Ms.
Speaker BSniff.
Speaker AI am trying so hard at the moment because I don't know where this would go if I carried on, so I'm.
Speaker BOut.
Speaker BIt's before the watershed.
Speaker BSo, as you can tell, guys, we've not planned this live, we're just going with it.
Speaker BWe have a fun one today, fun summer podcast with Lee and Vicky talking nothing about finance.
Speaker AI have to be here for the next two weeks.
Speaker ASo am I.
Speaker ASo we have to get her all in.
Speaker BNow, as you'll probably say, is in a good mood today because he's off to sunny Mexico tomorrow for two weeks.
Speaker BSo it'll just be little old me for the next two weeks on the lives.
Speaker BGod knows what we're going to talk about, but we might even see if we can get Lee live from Mexico and his little.
Speaker BIn his little.
Speaker BYou don't wear Speedos, do you?
Speaker BNo.
Speaker BThat's good.
Speaker BThat's good.
Speaker AOtherwise optional.
Speaker BYeah, like.
Speaker BYeah, just normal swim shorts.
Speaker BNot Speedos.
Speaker ANo, just normal swim shorts.
Speaker BYeah.
Speaker BSpeedo should be banned.
Speaker BRight?
Speaker BAnyway, that was not on the agenda.
Speaker BRight, next up, we've just got a few updates from us.
Speaker BThere's been a lot of questions on our Facebook page and group and things about using free agent and how to do various things in free agent.
Speaker BIf you didn't already know, we have put together a how to guide for free agent, which you can get on our website.
Speaker BIt is not a PowerPoint, it is not death by PowerPoint or Lee seems to have frozen.
Speaker BOh, he's back.
Speaker BIt's not death by PowerPoint.
Speaker BIt is short videos by myself, Lee and Abby of how to do various things on free agent, like add a loan, add a van or a car.
Speaker BIf you've purchased either one of those, how to create an invoice, how to add a category, what the profit and loss report is, what the balance sheet is.
Speaker BSo it goes into a lot of detail on how to do certain things.
Speaker BIt doesn't necessarily give you the theory behind it.
Speaker BWe're not going to sit there for half an hour and tell you what an asset is.
Speaker BIt is literally just if you have bought a van and you want to add it to free agent, click here, click here, add that figure there, press okay.
Speaker BAnd it just allows you to know that you've done things correctly so that if you are sending them to us, we know that your free agent is correct and you don't have to spend money for us correcting it.
Speaker BAnd if you're doing it yourself, you know that you've put that stuff in there correctly.
Speaker BBecause when making Tax Digital comes into play next year, these things will be going to come.
Speaker BSuper important that you get it correct because you're going to have to submit things every quarter.
Speaker BSo if you mess it up in the first quarter, then you know it's going to create a ball ache if you're trying to correct it in the next one.
Speaker BSo you can get that on the lovely website link just below.
Speaker BJust so check that out.
Speaker BIf you have got free agent.
Speaker BThe next thing we wanted to quickly touch on was the accounting packs.
Speaker BIf you are Nowhere near that 50 grand bracket, maybe you're under 20 grand for instance, and you're thinking, I've got ages before I need to worry about software and I prefer paper and pen, then our physical accounting packs are still available and they are currently on sale.
Speaker BSo if you want one of those physical accounting packs posted to you, which basically tells you all of the expenses you should claim for, how to group the them, it's got hints and tips in there, there's all sorts you can put.
Speaker BThere's a mileage log, there's an asset register, there's a stock take bit, there's just loads.
Speaker BSo again, if you're a paper and pen person and you're not anywhere near that MTD bracket and you want to stick to that, then please head to the website and find that because they are cheap, cheap, cheap until they're all gone.
Speaker BAnd that was that one we've had just, just taking them off my list of things that we needed to cover today.
Speaker BWe have seen a lot of questions over the last few days on our group, on the other groups about new people starting businesses and whether they should register as a sole Trader or limited company or just people thinking maybe they need to change to a limited company.
Speaker BSo I'm going to pass this over to Lee because I felt like I've talked a lot for the last five minutes and very briefly, let's.
Speaker BAnd I'm going to highlight the word briefly if you're just starting out in business.
Speaker AYeah.
Speaker BSole trader or limited company?
Speaker AIt depends.
Speaker BI knew this.
Speaker BI knew.
Speaker BI just.
Speaker AIt was brief.
Speaker AThose man who.
Speaker BDepends, Maya, they're still trader.
Speaker BBut come on, Lily.
Speaker ARight.
Speaker AIf you're starting out on your own and you don't have any other business partners, it is more tax efficient initially to start up as a sole trader, but you don't have some of the protections that a limited company has.
Speaker AYeah, a limited company is much more expensive to run.
Speaker AIt is more complex when it comes to the.
Speaker AThe statutory reporting side.
Speaker AAnd the money that it generates is not yours.
Speaker ASo you can only extract it in certain ways.
Speaker AIf you're unfamiliar with accounts, with how a limited company works, with how you take the money out of it and you can't afford an accountant, don't go down the route of a limited company.
Speaker AStay as a sole trader.
Speaker AIt's cheaper to operate, much more easier to keep the records for, and you have the ability to do your own tax return if you feel confident with it, which will save you a little bit of money.
Speaker ASo off the bat, without looking into the whys and wherefores on your own, most likely is that a sole trader is going to be more tax efficient for yourself.
Speaker AIf there's you and somebody else looking to go into business, then potentially a partnership or a limited company might be a better choice for yourselves.
Speaker ABut it all depends on the finer details.
Speaker ASo just because it's right for one person, it doesn't mean it's right for another.
Speaker AAnd again, have those conversations with us.
Speaker AWe'll walk you through the pros and cons.
Speaker AWe'll tell you, you know what, what could or may happen as well as your obligations under both.
Speaker ASo you can make an informed decision.
Speaker AAnd if you decide that you want to go down the limited company route, we can help you open up that limited company as well.
Speaker BYeah, because you built.
Speaker BSometimes we've seen people get it wrong, haven't we, when.
Speaker BWhen they've opened limited companies because they've got the share bit wrong and then it's cost them a lot of money, I think.
Speaker BDidn't we have someone like last year or something that did the shares wrong, that cost them like thousands of pounds?
Speaker AYeah.
Speaker BSo again, you Know, get a professional to do that for you if you're going to go down that route.
Speaker BAnd some accountancy firms are a bit sneaky and they will sort of, you ring them up and say, oh I'm thinking of being limited company.
Speaker BThey'll probably agree with you because they got more money.
Speaker BMore money, yeah.
Speaker BLimited companies are sometimes 4, 5, 6 times the amount of a sole trader.
Speaker BYou know our sole trader fees are 27 pound plus VAT a month.
Speaker BSome like a limited company can range from £150 to £500amonth and sometimes in some cases more.
Speaker BSo again you've got to make sure it is the right decision and just do your research and whatever you do, do not listen to people on social media unless they are a professional in what they do and they should be given that advice because I see a lot on these groups where people go, oh no, you need to be a limited company to hire someone.
Speaker BNo you don't.
Speaker BYou can hire someone as a sole trader or all these weird and wonderful answers that people put out there.
Speaker BThen obviously people go yeah, okay, I'll do that then.
Speaker BSo just please, please, please seek professional help before you make that decision.
Speaker ABecause the biggest one is I'm nearing the VAT threshold, I'm a sole trader, I'm nearing the VAT threshold, I'm going to go limited because then I don't have to register for vat.
Speaker AIt's not true, it's not true.
Speaker AJust because you're changing entity.
Speaker AIf you did it for the purpose of avoiding that, that's illegal to start with.
Speaker ABut if nothing changes in your offering in the way that your business is set up, the way that it's being held out to customers, then that's a continuation of trade.
Speaker AEven though that you're setting up as a limited company and therefore all of your predated sales to setting up the limited company will count towards the VAT turnover for the new limited and hit it and it's not done right.
Speaker AYeah, exactly.
Speaker BYeah.
Speaker BIf you get into the VAT threshold and you think I'll go as a partnership or limited company, what's the point?
Speaker BBecause you're going to hit your business model's obviously good enough where you've got to that point in the first place, all you're doing is delaying the inevitable, creating yourself more hassle of different bank accounts, having to set up new websites, new advertising, new flyers, new business cards, etc etc, when you could just ride everywhere.
Speaker AIf you do it wrong and HMRC finds out that you've done it wrong.
Speaker AThey're going to go that 90 grand that you've just earned where you didn't charge vas on.
Speaker AWe want the VAT back, fines and penalties on top of the VAT you owe.
Speaker ASo it's really, really important that you, you truly understand what it is that you're looking to achieve and whether or not it's legal or whether there's ramifications in it and whether you should or shouldn't be doing it.
Speaker ABut that's where we can come in and help.
Speaker BAnd again, like I say, it always comes down to speaking to the right people.
Speaker BYeah.
Speaker BAnd not listening to social media.
Speaker BI see it all the time in all the different groups, not necessarily ours or some of the bigger ones, but some of the things people say.
Speaker BAnd then the, the person who's asked the question goes, oh, yeah, okay, I'll do that then.
Speaker BLike there was one.
Speaker BI don't need to do a tax return till I've made 12 grand.
Speaker BAnd someone.
Speaker BYeah, that.
Speaker BAnd then everyone went, yeah, that's correct, you don't have to do one.
Speaker BAnd I'm sat there like, no.
Speaker BSo please, please, please, just, even if it's not us, just any accountant or finance professional that can answer the question and to seek professional help.
Speaker BRight.
Speaker BThat's all we really had planned for today.
Speaker BWe still have some tickets left for the Expo.
Speaker BDo you know what I did kick, I'm going to be honest here, I did kick someone out the group the other week and that.
Speaker BNo, I know, and I'll tell you why.
Speaker BBecause we just launched the Expo and when I launched it, I said that I would ring everyone on the wait list because I thought, oh, we're only going to get like 30 or 40 people on the wait list.
Speaker BIt'll be fine.
Speaker BAnd actually, there's over 300 people on this wait list.
Speaker BSo I massively underestimate.
Speaker BAnd I still was trying to call everyone, but as I was calling everyone, people snapping up the tickets and sometimes multiple.
Speaker BSo I thought, well, it's going to be unfair if you're like 201 on the list and over that you miss the chance if you're waiting for that phone call.
Speaker AYeah.
Speaker BSo I decided to put the link online and said, look, I'm still going to ring people, but if you're desperate, desperate for one and you don't want to wait, just click the link and you can buy a ticket and then some knob put on in our group.
Speaker BWell, if it's selling well, why have you put the link on social media?
Speaker BAnd I'm like, I've just explained why and I thought, no, this, our group was a safe space for everybody and I will tolerate rude and unnecessary comments.
Speaker BSo guess what happened?
Speaker BI went on him, I kicked him out the group and I thought, no, not going to have rude people.
Speaker BSo I know people, people do put on stuff like, oh, there's only 10 tickets left when actually there's like a thousand tickets left because they just want people to buy a ticket.
Speaker BI get it.
Speaker BBut genuinely guys, there is not many left.
Speaker BThis is not me just trying to get you to buy a ticket there when you is not many left.
Speaker BAnd that's why I'm putting the link on so you can grab them as and when and when they're gone, they're gone.
Speaker ABut we don't have the ability either to, to choose a bigger room at the, of the venue because it's the only room that's left that we' there.
Speaker ASo there is a limited number of tickets and once it's full we can't, we can't oversell.
Speaker AWe just don't have, we don't have the capacity at the venue.
Speaker ASo it is a case of if you want to come grab your ticket.
Speaker ABecause once Vicki's.
Speaker ALike I said, once they've sold out, they, they're gone.
Speaker BYeah.
Speaker BAnd you know, they, they are going very quickly.
Speaker BUnlike the knob that put that comment on there.
Speaker BBye is they genuinely are.
Speaker BThis isn't a drill and likely said once they're gone, they're gone.
Speaker BI cannot increase the capacity.
Speaker BAnd I went to the venue last Friday, did a dummy run if you're thinking of getting the train.
Speaker BI did walk from Birmingham New street station to the venue and it took approximately 17 minutes and that was quite a slow pace, I would say, because it was boiling hot and I was sweating and so yeah, 15, 15 to 20 minute walk max.
Speaker BAnd the venue is lovely.
Speaker BThere is a hotel attached if you wanted to make a weekend of it.
Speaker BBirmingham Christmas markets are always are also on.
Speaker BSo if you wanted to bring some friends or family with you and let them toddle off on Saturday whilst you come to the expo, then they can go and enjoy Birmingham Christmas markets, which I hear are very, very good.
Speaker BI've never been but now if you're.
Speaker AClever with this, whether or not you're a limited company or a sole trader, if you're, if you have to travel somewhere to attend a trade show, a training session or anything along those lines, you can take a day before it and a day after it to, you know, make sure that you're all settled, that you're not all just disheveled and then that you're ready for the training day ahead.
Speaker ASo you could potentially get three days in Birmingham, have food and you travel down there, as well as your accommodation and tickets to enter the venue.
Speaker AAll of this is an allowable business expense and you can do personal things on the day before and the day after and, and have that as a, as a tax deductible expense because the, the tax law allows to have days either side because the main purpose of that trip was to attend our, our expo, the trade show, which you're going to get CPD from and therefore it's an allowable business expense.
Speaker ASo by utilizing that, you can get three days down there and put it through the business as well.
Speaker AHappy days.
Speaker BWe did say it's an allowable business expense, peoples.
Speaker BYes.
Speaker BAnd it's open to everyone and we've had a few comments when we've rang people up that thought it was just for groomers or just for walkers or whatever.
Speaker BIt is open to everyone because the topics we are discussing are business related topics.
Speaker BSo they're, they apply to everyone.
Speaker BNo matter who you are and it is cpd.
Speaker BThere is going to be a lot of learning involved.
Speaker BThere's not one that does this in the UK whatsoever.
Speaker BThere's loads in America for various different ones, but never in the uk.
Speaker BAnd I think it's about time people start investing in themselves to grow the business because, you know, you can do all the training courses in the world, the practical stuff, but that's not going to make you money.
Speaker BAt the end of the day, the people that I've selected, I know they're good, they're good at what they do and they're going to deliver an entertaining day.
Speaker BIt's not going to be death by PowerPoint.
Speaker BWe're not going to be talking at you for 10 hours.
Speaker BWe plenty of breaks.
Speaker BThere's breakfast and lunch included.
Speaker BYou get the obligatory goodie bag, which we will pillage for stuff we can put in there.
Speaker BThere will be a pen and a notepad and I think Tegan's going to try and get some chocolate to put in there as well.
Speaker BSo it is going to be a full day.
Speaker BThere's a chance of networking afterwards.
Speaker BYou have also got the recording of the whole day as well that's going to be made available to you guys afterwards.
Speaker BAnd on top of that there's another array of online speakers leading up to the event as well.
Speaker BSo we've got there's probably going to be like 20 in total.
Speaker B13 on the day.
Speaker BWe will be releasing the final three this week and then we'll be releasing some other information later on.
Speaker BBut we have got a very special guest joining us for the day, so I will release that at some point this week.
Speaker BBut please, please, please grab your ticket before they run out.
Speaker BBecause like Lee said, we cannot magic more room and space in that venue.
Speaker BThat's what we've got, is what we've got.
Speaker BSo please, please, please find the link and grab your seat and make a weekend of it.
Speaker BI know our clients coming down just because they want to have a few drinks and it's a business expense, so why not?
Speaker BWe will be in the hotel.
Speaker BIt's called the Aloft east side, which is attached to the venue.
Speaker BWe will be there Friday and Saturday night.
Speaker B90% of the people are coming are coming on their own.
Speaker BSo please, please, please don't stress about coming on your own and be worried about it because everyone's going to be there in the same boat.
Speaker BWe will be putting a little WhatsApp group together a few days before.
Speaker BSo if anyone is really super nervous about coming into the venue on their own, we will send Tegan or Emily out to find you and bring you in so you don't feel so scared.
Speaker BSo it all be fine.
Speaker BEveryone's going to be fine.
Speaker BAnd then we'll get pissed on Saturday because it'll be over and I can go and relax and hopefully we'll have no technical issues on the day.
Speaker ALet's see.
Speaker BWe'll see.
Speaker BI've got someone there that does the tech stuff, so I don't have to.
Speaker BSo it'll be fine.
Speaker BBut yes, it is not a drill.
Speaker BI'm not saying they're running out for the sake of saying they're running out.
Speaker BContrary to that man's comment on the quote, it was just Root, but he's gone, so we don't care.
Speaker BVanished.
Speaker BHonestly, I was feeling when I saw it, I was like, how rude.
Speaker BThorough off.
Speaker BSo if you're listening, yes, I kicked you out.
Speaker BYou can't come back it we probably get a ticket.
Speaker BYou know, that would be that.
Speaker BYeah.
Speaker BBut yes, that is it for today and thank you for listening to our random podcast.
Speaker BMaybe we should do one of these a month.
Speaker BVicky and Lee's random.
Speaker ARandom rants.
Speaker BRandom rants for the month.
Speaker BSo this is our May.
Speaker BRandom rants.
Speaker BA bit of information.
Speaker BOh, there the dogs are barking now.
Speaker BAnd I will see you next week, maybe with a guest.
Speaker BMaybe with just me.
Speaker BMaybe I'll get Tegan on.
Speaker BMaybe we'll get Emily on.
Speaker BEveryone speaks to Emily on the phone but never sees her.
Speaker BSo maybe I can drag Emily on, or any of the staff I can maybe drag on.
Speaker AMaybe we'll get Adam because at least everybody can see who she is and put a face to her name.
Speaker BYeah, that's true.
Speaker BWe could.
Speaker BWe could get Adam on, but is he taking a drink of water?
Speaker ANo, he's not.
Speaker ANo.
Speaker ANobody's listening in the office.
Speaker AIt's just me in the moment.
Speaker BNo, Emily's just come to the window and shake my head.
Speaker BYeah.
Speaker BAnd Emily said yes, she'll be on next week, so everyone can be Emily and then we'll resume back to normal when Lee comes back all hand and tells us about his travels.
Speaker BBut yes, thank you very much for listening.
Speaker AOh, I have one thing before we go.
Speaker AEmily and Nicola have been working really hard the last couple of weeks just to try and gain some updated ID off a couple of the clients.
Speaker ASo if you are a client of ours and you have received a text message or an email asking for updated id, we desperately need it, please.
Speaker AIt's not because we just decided that we have to take.
Speaker AIt is part of our regulatory thing that we have to have.
Speaker ASo if we are reaching out to you, it'll be because what we have is expired and we desperately need the updated stuff so that we can continue to act as your accountant.
Speaker ASo really, really important, please don't ignore it and just send them something on the list so they can stop ringing you and leave you in peace.
Speaker BIt's just because we're a licensed accountant that we have certain rules that we have to follow.
Speaker BOtherwise we get told off, which no one likes.
Speaker BSo, yes, please get to us if you can.
Speaker BI will be ringing people soon if you haven't got it to us from a big stick.
Speaker BBut no, if you could get to that refab.
Speaker BEnjoy the rest of your week.
Speaker BHopefully we'll see a lot of you in November at the Expo.
Speaker BAnd yeah, I will catch you next week for a more informative life.
Speaker AAnd I'm thinking about you all on a beach.
Speaker BYeah.
Speaker BIn the speedos.
Speaker BIn the speedos.
Speaker BRight.
Speaker BOn that note, enjoy your week, everyone.
Speaker BAnd if you need us, you know where to find us.
Speaker BAnd just, yeah, carry on using the group and we'll catch you next week.
Speaker ATake care.
Speaker ABye bye.
Speaker BThanks for listening.
Speaker BIf you've enjoyed my podcast, don't forget to subscribe for me.
Speaker BAnd 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 and I will see you there.