Dog Grooming Business Help & Support Lets talk accounts with The Pet Accountant Vicky Clark
May 26, 2021
Vicky Clark, the fun-loving Pet Accountant, brings her unique flair to financial management for pet professionals. With a passion for helping pet groomers thrive, she tackles the challenges of navigating finances and choosing the right business structure. Vicky discusses the nuances of tax strategies for home groomers and VAT implications, while emphasizing the importance of professional guidance. Her insights empower new grooming business owners to avoid common pitfalls and build a solid foundation for success—all while mingling with our furry friends!
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Vicky's Pet Professional Focus
- Vicky Clark shifted her accounting practice to exclusively serve pet professionals because she enjoys the industry and client relationships.
- She often spends client visits playing with dogs, making her work more enjoyable compared to more traditional sectors.
Claiming Clothes and Home Expenses
- Claim business clothing expenses only if the clothing is necessary for your work, even if it doesn't bear a logo.
- Use the HMRC simplified flat rate of £312 for home office utilities instead of complex calculations.
Tax Benefits of Partnerships
- Partnerships allow you to split profits among partners, reducing individual tax burdens compared to sole traders.
- File separate self-assessments for each partner plus a partnership return to comply with HMRC.