The Power of 3

Often it is said that bad luck comes in threes, and I was taught that reports, CVs and letters should where possible be split into three or six clearly defined sections (something that I often find myself conforming to many years later).

But after Ann Hawkins commented on last week's #FF post that I could do with a 3-legged stool, this week has included a variety of more positive and balanced trios.

1. Three half-days dedicated to three of my bigger clients (by service level not company size)
2. Three 1-2-1s with like-minded professional contacts
3. Three entries in my CPD log.

This week has been dedicated to #self-care and was the subject of discussion at a well-attended DRIVE meeting on Thursday. Knowing that I am a workaholic, I was challenged to think of ways I could schedule time for "fun" things, which for an accountant is harder than you realise!

After the meeting, one kind member sent me a podcast about the importance of rest, and ensuring that this is not simply a holiday or more sleep, but is relevant to your personal needs.

Another member sent some supportive information about journalling which prompted me to share that I walk the dogs before I start my workday, with my husband. Whilst it doesn't quite fit the "fun" challenge, it was acknowledged that this is a form of self-care as it includes exercise/fresh air and connection with nature, and my husband (if I am not sulking about how cold it has been this week). Ultimately, I enjoy my work, I don't hanker for "fun", but I do acknowledge that it is important to watch for burn-out and appreciate those around me, who care for my well-being.

The conversations inspired me to share this photo of my THREE four-legged housemates. Which further helped the members understand who I am and where my priorities are.

DRIVE is not your average networking event, there's no selling, but support, some accountability, and positivity that feeds the soul.

Later that evening, a conversation regarding the tax changes for double-cab pick-ups [DCPU] took place on a local business whatsapp thread.

For those that aren't aware, the recent budget surprised us all by announcing that they were retracting the previous Government's treatment of DCPUs as commercial vehicles.

As such, any DCPUs purchased or leased after 5th April 2025 will be treated for Income Tax or Corporation Tax like a car. The THREE key implications being:

1. A Benefit in Kind tax charge on the user of the vehicle if it doesn't qualify as a "pool car"
2. Capital Allowances will be severely reduced.
3. There will be huge demand in the next few months as those in the construction industry and beyond race to renew their leases or buy new, so look out for some not so favourable deals.

Interestingly, the VAT regime is separate and so provided the DCPU has a pay-load of 1-tonne, it will continue to be classed as a commercial vehicle. However, we shouldn't hold our breath, as the legislation has not yet been enacted and we all know that politicians are capable of changing their minds.

If you use a DCPU in your business already, you will be able to rely upon the previous treatment until the earlier of disposal, lease expiry, or 5th April 2029.

I have of course, informed my husband that he wont be renewing his dog-mobile anytime soon!