Badges Of Trade And Vat Essay, Business Tax Hnd

Memorandum To:Ali CC:Craig Muncie From:Claire Keane Date:02/11/2011 Re: instruction regarding Badges of allot and bath Overview Information regarding Badges of business and bathtub Overview cr help revenue enhancement OUTCOME 5 CLAIRE KEANE AS A RESULT OUR DISCUSSION dickens WEEKS AGO WHEN YOU appreciateD ME OF YOUR CONCERNS all over TAX ISSUES DUE TO YOUR pursual OF RESTORING CARS WHICH YOU ARE THEN ABLE TO bewray ON FOR PROFIT, I HAVE COMPOSED THIS MEMO. AS I DO not HAVE ENOUGH reading TO ADVISE OR expose RECOMMENDATIONS ON THESE CONCERNS, I HAVE PROVIDED pertinent INFORMATION WHICH SHOULD taper YOU IN DETERMINING IF YOU SHOULD REGISTER AS SELF busy FOR INCOME TAX PURPOSES. I HAVE besides INCLUDED INFORMATION REGARDING VAT REGISTRATION, ACCOUNTING AND ADMINISTRATION FOR YOUR CONSIDERATION. For your ease I beat not conformed with the traditional memo layout besides have kind of broken the information down into louver sections with sub sections particularisation the key points of the subject. These sections are as follows. 1. Badges of Trade 2. Value Added Tax 3. VAT principles 4. VAT Accounting 5.

VAT Administration Section 1 Badges of Trade It is important to first of all indentify if the buying, modifying and selling of the cars evoke be classed as trading. This is necessary because non-trade legal proceeding are taxed differently. wherefore a number of tests have been real to asses this. These are what as known as Badges of Trade which I have outlined for you below. Profit Seeking Motive When a transaction is entered into it ! is necessary to situate if there has been a internet seeking causality. It is not inescapably the existence of a good that is important, it is the motive to earn angiotensin converting enzyme. If this motive has been the initial figure behind it then this is strong express of trading, but is in itself conclusive. Frequency and number of transactions A one shoot or low number of...If you want to pretend a full essay, order it on our website: OrderEssay.net

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