Plan B has suddenly kicked into life and is part of the limited company that I also use for contracting.
I recently joined the FRS thinking it would be another year before I got my planB together.
Plan B is a higher expense business and lower revenue than Contracting. So most of my expenses will be planb and most of my revenue will be IT services..
However, using the bassets FRS calculator and 2k expenses a month (or 2800 in vat for year) I still come out slightly ahead with FRS.
However, LtdCo is no longer purely in the industry I originally said it was in for FRS.
What are the rules around this? Can I apportion different percentages? Or should I just get out of FRS?
Thanks
I recently joined the FRS thinking it would be another year before I got my planB together.
Plan B is a higher expense business and lower revenue than Contracting. So most of my expenses will be planb and most of my revenue will be IT services..
However, using the bassets FRS calculator and 2k expenses a month (or 2800 in vat for year) I still come out slightly ahead with FRS.
However, LtdCo is no longer purely in the industry I originally said it was in for FRS.
What are the rules around this? Can I apportion different percentages? Or should I just get out of FRS?
Thanks
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