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.
A person carrying on an enterprise which has not made R50 000 in taxable supplies is allowed to register for VAT, if there is a reasonable expectation to exceed R50 000 in taxable supplies within the 12 month period from date of registration.