Topic: Limited Cost Trader Flat Rate Scheme
I am a vet, working as a locum. I have a limited company and have been using the FRS for a few years. I have fallen into the limited cost trader category. My turnover is circa £35k before VAT.
I have just applied to change to the annual VAT accounting scheme. My current plan is to just buy £1000 worth of books or equipment each year that I will use as part of the business and hence no longer fall into the limited cost trader category.
Is there a better alternative to this? Perhaps buying £1000 worth something veterinary related eg soft cat cages or collars from China that I could then sell for a small profit on ebay or Amazon? Or would that not work?