Originally posted by LondonManc
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Reply to: New VAT FRS 16.5% - how to save 2%
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Previously on "New VAT FRS 16.5% - how to save 2%"
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Originally posted by gaumzi View PostI am an IT contractor on 14.5% VAT FRS. I do not WANT TO fall under limited cost business.
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If you're happy to commit fraud you can use whatever FRS percentage you like.
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Originally posted by DaveB View PostFRS never intended to be an income stream for your co. It was an allowance from HMRC for simplifying your VAT return and essentially making their lives easier.
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Originally posted by gaumzi View PostI am an IT contractor on 14.5% VAT FRS. I do not fall under limited cost business. So to avoid paying 2% extra tax to HMRC, what are my options except spending that 2% on stationary every quarter?
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Originally posted by TheFaQQer View Post1) Leave FRS
2) Deregister from VAT completely
3) Close down your company and create a new one - you get 1% discount in your first year
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Originally posted by gaumzi View PostSo to avoid paying 2% extra tax to HMRC, what are my options except spending that 2% on stationary every quarter?
2) Deregister from VAT completely
3) Close down your company and create a new one - you get 1% discount in your first year
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Originally posted by gaumzi View PostI am an IT contractor on 14.5% VAT FRS. I do not fall under limited cost business. So to avoid paying 2% extra tax to HMRC, what are my options except spending that 2% on stationary every quarter?
Leave a comment:
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New VAT FRS 16.5% - how to save 2%
I am an IT contractor on 14.5% VAT FRS. I do not fall under limited cost business. So to avoid paying 2% extra tax to HMRC, what are my options except spending that 2% on stationary every quarter?
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