Up until now, I've always been happy being in the FRS. Money for old rope and very convenient. However, being in it I've actually been LOSING MONEY because my travel and expenses whilst contracting in London (I live in the north) are significant, i.e. around £ 24k per annum. So, that's £ 4,800 right there vs retaining c. £ 3,500 on the scheme!!
However, there is a downside aside from the added paperwork. I usually share a flat with another professional with the landlord not being VAT registered. Finding one that is would reduce my options and so I'm resigned to the fact I may have to move across to hotels, albeit rather nice ones.
However, there is a downside aside from the added paperwork. I usually share a flat with another professional with the landlord not being VAT registered. Finding one that is would reduce my options and so I'm resigned to the fact I may have to move across to hotels, albeit rather nice ones.
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