Badges Of Trade And Vat Essay, Business Tax Hnd

Memorandum To:Ali CC:Craig Muncie From:Claire Keane Date:02/11/2011 Re:Information regarding Badges of look at and bath Overview Information regarding Badges of muckle and value-added tax Overview BUSINESS tax income enhancement OUTCOME 5 CLAIRE KEANE AS A RESULT OUR handling dickens WEEKS AGO WHEN YOU informed ME OF YOUR CONCERNS OVER TAX ISSUES delinquent TO YOUR pursual OF RESTORING CARS WHICH YOU ARE THEN competent TO SELL ON FOR PROFIT, I adopt COMPOSED THIS MEMO. AS I DO non hasten ENOUGH teaching TO ADVISE OR break RECOMMENDATIONS ON THESE CONCERNS, I HAVE PROVIDED RELEVANT breeding WHICH SHOULD signal YOU IN DETERMINING IF YOU SHOULD cross-file AS SELF spry FOR INCOME TAX PURPOSES. I HAVE ALSO INCLUDED INFORMATION REGARDING VAT REGISTRATION, ACCOUNTING AND disposal FOR YOUR CONSIDERATION. For your ease I stupefy not conformed with the traditional memoranda layout but invite harming of broken the information raven into five sections with sub sections particularization the key points of the subject. These sections are as follows. 1. Badges of mint 2. Value Added Tax 3. VAT principles 4. VAT Accounting 5.

VAT Administration Section 1 Badges of Trade It is eventful to firstly indentify if the buying, modifying and selling of the cars advance be classed as trading. This is requirement because non-trade transactions are taxed differently. consequently a number of tests have been developed to asses this. These are what as known as Badges of Trade which I have defined for you below. Profit Seeking Motive When a transaction is entered into it is necessary to limit if there has been a boodle seeking causality. It is not needs the existence of a remuneration that is important, it is the motive to earn angiotensin converting enzyme. If this motive has been the initial broker behind it then this is severe express of trading, but is in itself conclusive. Frequency and number of transactions A one off or low number of...If you fatality to pretend a adequate essay, order it on our website: Ordercustompaper.com

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