This is the first year that I’m doing this role and it’s a question I’m asking at the moment too – I’d love to know how others plan. It’s good to base it on a percentage of overall income but the percentage is up for debate. It should be a minimum of 1-5% (not including salaries). Growing businesses can easily spend more than that.
Please let me know if you find out more on this or would like a chat, and good luck! Rhiannon