Franchising

Under cash-based VAT, the VAT is only paid when an invoice is paid. On accruals it is paid when the invoice is received. These rules apply to both Sales and Purchase Invoices.  Generally most small businesses will take the cashflow advantages [...]

MDF stands for Marketing Development Funds. It's essentially a pot of money that a franchisor makes available to its franchisees to help them with local marketing and advertising efforts.