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.
The VAT 101 application for registration must be submitted in person at the SARS branch nearest to the place where your business is situated or carried on. A registered tax practitioner may appear in person on behalf of the applicant. In short, voluntary registration for VAT is now allowed for taxable supplies up to R50 000 within 12 months from date of registration; 2  and reclassification of Category F VAT vendors as Category A or B vendors.