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My client sells ice cream from a pitch in a local shopping centre. The use of the pitch is restricted and it can only be used for this purpose from April to October.
My client’s turnover for the first month of trading was £7 000 and he believes that it might peak at about £10 000 per month although if the summer is good it could conceivably be more.
Can readers advise at what point he will need to register for VAT if at all? He will not be selling ice-cream from November to March.
I am also a little unsure as to the preparation of accounts. Should this simply be for April to October each year with the business starting and ceasing each year; or should accounts be prepared annually as normal? And would it make any difference if he was trading as a limited company?
...Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.
