Running a floral business in the UK entails a variety of jobs, ranging from sourcing fresh flowers to crafting exquisite arrangements. Alongside the artistic aspects, florists are also tasked with practical responsibilities such as financial oversight and tax preparation. An important yet frequently neglected opportunity for tax relief lies in the recording and offsetting of fresh flower wastage. Accurate documentation of flower wastage can lead to an improved inventory management system and potentially significant tax benefits.
Understanding Flower Waste
Flower waste in a floral business refers to flowers and related materials that cannot be sold or used due to spoilage, damage, or overstock. Due to the perishable nature of flowers, waste is an inevitable part of the floral industry. Efficiently managing and recording this waste is crucial for both the operational and financial health of your floral business.
