.png)
.png)
...Universally challenged; Voucher bonus
Golf and grub
Must a new business take account of the turnover of a missing predecessor?
Our client has just taken over the catering function at a golf club. She is a sole trader and this is her first business. She retains all the takings from the food sales in return for a fixed rent payment of £100 a week to the club for the use of the kitchen and facilities.
The catering function is in effect a separate going concern at the club. The previous proprietor had financial and marital problems and did a runner without telling anybody.
My question relates to VAT. Although my client has not purchased any assets or goodwill from the previous owner she is still taking over a going concern and she is even keeping the same menus and prices.
The VAT legislation as I understand it...
Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.
