Originally posted by WTFH
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Opinions on using coffee shop as a casual workspace.
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Originally posted by Alchemy Accountancy View PostSorry to be pedantic here...but what you actually need to do is divide it out by 1 minus the rate of tax (expressed as a decimal) - I'm sure there will be a proper mathematical term for this..
The proper term (non-mathematical) is 'lazy' (that's me, for not making sure I had it precisely right) and 'nerd' (both of us) and 'clueless but accurate accountant' (that's you, for focusing on the numbers and ignoring the huge issue that he's not going to be doing admin in a coffee shop 230 days a year ).
But anyway, thanks for correcting me, I deserved it for being both pedantic and wrong.Comment
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Originally posted by pr1 View Postplus the VATComment
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Originally posted by WordIsBond View PostIf you buy enough coffee you won't have to be a low cost trader and can make profit on flat rate VAT.Comment
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Originally posted by password View PostRegarding commentary about the amounts being miniscule. I think it is a good practice to include even the simplest of business expenses. I say this because when I go shopping online for example and go click happy and add a bunch of items to my cart thinking.. Oh that's only £2 pounds and so forth. By the time I click checkout the overall cart value is quite high.
If someone has the power to make my life hell, I don't want to trigger them. I don't mind at all having them say, 'Man, this guy even expenses envelopes' -- envelopes hardly cost anything but they are legit business expenses. But I don't want them saying, 'This chancer tried to put his morning coffee down at his local Starbucks through his company. Where else is he cheating?'
It's a risk/reward question. I think the risk here is significant and the reward small. I wouldn't do it. Sounds like your risk tolerance is higher than mine.Comment
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Originally posted by TheCyclingProgrammer View PostHow did none of us think of this workaround when they introduced the low cost trader rules?Comment
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Originally posted by WordIsBond View PostIf you buy enough coffee you won't have to be a low cost trader and can make profit on flat rate VAT.Comment
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