Vat and Badgs of Trade

Memorandum To:Ali CC:Craig Muncie From:Claire Keane Date:02/11/2011 Re: reading regarding Badges of make do and ad valorem tax Overview Information regarding Badges of distri ande and ad valorem tax Overview BUSINESS impose OUTCOME 5 CLAIRE KEANE AS A RESULT OUR DISCUSSION devil WEEKS AGO WHEN YOU informed ME OF YOUR CONCERNS OVER TAX ISSUES DUE TO YOUR pursual OF RESTORING CARS WHICH YOU ARE THEN adequate TO SELL ON FOR PROFIT, I HAVE COMPOSED THIS MEMO. AS I DO not HAVE ENOUGH randomness TO ADVISE OR take in RECOMMENDATIONS ON THESE CONCERNS, I HAVE PROVIDED RELEVANT INFORMATION WHICH SHOULD go YOU IN determine IF YOU SHOULD REGISTER AS SELF assiduous FOR INCOME TAX PURPOSES. I HAVE ALSO INCLUDED INFORMATION REGARDING VAT REGISTRATION, account statement AND ADMINISTRATION FOR YOUR CONSIDERATION. For your ease I name not conformed with the handed-down memo layout but have quite br oken the selective information down into five sections with sub sections particularisation the key points of the subject. These sections are as follows. 1. Badges of merchandise 2. Value Added Tax 3. VAT principles 4. VAT Accounting 5.

VAT Administration Section 1 Badges of Trade It is important to firstly indentify if the buying, modifying and selling of the cars tummy be classed as trading. This is necessary because non-trade transactions are taxed differently. and then a hail of tests have been developed to asses this. These are what as known as Badge! s of Trade which I have outline for you below. Profit pursuit Motive When a transaction is entered into it is necessary to regain if in that location has been a profit seeking motive. It is not needfully the organism of a profit that is important, it is the motive to earn one. If this motive has been the initial factor behind it then this is strong deduction of trading, but is in itself conclusive. Frequency and number of...If you want to buy the bring about a full essay, order it on our website: BestEssayCheap.com

If you want to get a full essay, visit our page: cheap essay