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.
You will be registered from: 1  For registration based on past turnover your VAT registration will start from the first day of the second month after the limit was exceeded. 2  For example, if you exceed the registration limit in April, you have to notify HMRC by 30 May, and your registration will start on 1 June.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.