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Oh I get it now - £200 - that really sucks balls. My 1% discount and purchase of a laptop over £2k means it's worth sticking with it until the day the discount runs out, but after that I can probably manage at least £500 a year on food, accountancy fees and minor purchases. Time to get used to asking for VAT receipts.
Was contemplating this though figured there was more risk of stuffing it up to justify the potential saving but with this guide perhaps I'll have a go.
If, like me, you plan to leave the FRS on 1 April due to the new low cost trader changes and you use FreeAgent, and the 1 April falls in the middle of your current VAT quarter, my accountant just share this little guide of how to deal with this in FreeAgent:
TLDR; you can change your FreeAgent return date so you can effectively create two VAT reports - one up to the point you left and one up to the end of your VAT quarter using standard rate calculations. You'll have to combine these and submit the return using HMRC online software but should be able to continue using FreeAgent for VAT returns for subsequent returns.
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