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Posted Mon, 19 Feb 2024 13:56:22 GMT by
Good afternoon, I am planning to buy a cafe with a turnover of £60,000. If I take over my turnover will be around £100,000 as the owners are retiring and they only open on Fri - Sunday. I plan to open 7 days a week 6-6pm. My question is about VAT, what do I need to VAT on? And what items do not include VAT? thanks
Posted Wed, 21 Feb 2024 09:04:31 GMT by HMRC Admin 21 Response
Hi Keyur321 Doshim ,
Your VAT status depends on whether you are taking the business over as a Transfer of Going Concern. You will need to refer to the following guidance - Transfer a business as a going concern (VAT Notice 700/9) You should also refer to the following guiadnce for the VAT liability of food and catering services - Catering, takeaway food (VAT Notice 709/1).
Thank you.

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