I am in receipt of the £10,000 small business rate relief grant. I understand this is taxable but I am wondering if this would have to be regarded as turnover for the purpose of VAT threshold? I am not currently VAT registered although in the last rolling year I was getting fairly near to the threshold.
My turnover will now undoubtedly drop but would like to know if the grant would be something that could push me near to VAT threshold again.
Small Business Grant - Turnover?