Legal Definition of caveat emptor. : a principle in commercial transactions: without a warranty the buyer takes the risk as to the condition of the property or goods â compare products liability at liability 2b, warranty.
Calculate VAT taxable turnover. taxable turnover is the total value of everything you sell that isnât exempt from. . You must register for. with HM Revenue and Customs (. ) if it goes over the current registration threshold in a rolling 12-month period.This isnât a fixed period like the tax year or the calendar year-it could be any period, eg the start of June to the end of May. The current threshold is Â£82,000.ou must register for. with HM Revenue and Customs (. ) if it goes over the current registration threshold in a rolling 12-month period. This isnât a fixed period like the tax year or the calendar year-it could be any period, eg the start of June to the end of May. The current threshold is Â£82,000.
Your business should register for VAT if your âtaxable suppliesâ over the past 12 months has exceeded the VAT registration threshold.From April 2015, the VAT registration threshold is Â£82,000 (previously it was Â£81,000).o, if at the end of any given month, the total value of all your taxable supplies over the previous 12 months exceeds Â£82,000, you should register for VAT.