Thanks. I don't believe FRS should always be less than standard accounting, but I would hope there wasn't such a vast difference.
I'll phone HMRC as the goods/services supplied is not listed on their FRS page on their website. Then I can get calculating. I posted on here because I wondered if there were difference rules for CIC's because, as you say, they are a bit of a red herring.
My answers
Perfect thank you
That what I was thinking. It’s standard rate in the uk. So I should use EC 20% yes?
Stock/housewares
Yes but only because they were purchased separately so have separate invoices.
Thanks. I will get it checked with the accountant, was just trying to figure it out for myself so there's less work for them to do.
Yes should the blinds be capitalised?
Yes it is proving not to be clear cut. I will look much deeper into the grants and sponsorships. Thanks for the advice.
Thanks. I don't believe FRS should always be less than standard accounting, but I would hope there wasn't such a vast difference.
I'll phone HMRC as the goods/services supplied is not listed on their FRS page on their website. Then I can get calculating. I posted on here because I wondered if there were difference rules for CIC's because, as you say, they are a bit of a red herring.
Thanks for your help.
Perfect thank you. I'm sure everything will be overseen by an accountant where necessary, just investigating at present :-)
Because it would be far less using the normal VAT rules as far as I understand.