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.
1 When that total reaches the VAT registration threshold (Â£82,000 for a 12-month period in 2015/16), you need to register by the end of the following month. 2  For example, if your turnover exceeds Â£82,000 for the 12 months to 31 August 2015, you need to register for VAT by 30 September 2015. If at the start of any 30-day period you believe that your turnover for that 30 day period alone will exceed the VAT registration threshold (Â£82,000 for 2015/16), you need to register immediately.