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.
VAT registration for supplies in last 12 months. If your business is making taxable supplies, i.e. supplies on which VAT is chargeable at either the standard rate, reduced-rate or zero-rate, you need to notify HMRC when your turnover exceeds the limit in a period of 12 months.AT registration for supplies in next 30 days. Where you expect to make taxable supplies in the next 30 days that exceed the VAT registration limit you have to notify HMRC.