I probably spend around 1% of turnover on goods each year to support my consultancy business. So it seems to make sense to look how to spend another 1% (£500) to defend an annual VAT saving of £2,800 (5.6% x £50k) through the FRS. Looks like I'll be ordering those new business cards and personalised pens for marketing freebies after all!
My answers
I probably spend around 1% of turnover on goods each year to support my consultancy business. So it seems to make sense to look how to spend another 1% (£500) to defend an annual VAT saving of £2,800 (5.6% x £50k) through the FRS. Looks like I'll be ordering those new business cards and personalised pens for marketing freebies after all!