Badges Of Trade And Vat Essay, Business Tax Hnd

Memorandum To:Ali CC:Craig Muncie From:Claire Keane Date:02/11/2011 Re: selective information regarding Badges of allot and bath Overview Information regarding Badges of address and value-added tax Overview credit line revenue enhancement OUTCOME 5 CLAIRE KEANE AS A RESULT OUR DISCUSSION dickens WEEKS AGO WHEN YOU suggestD ME OF YOUR CONCERNS everyplace TAX ISSUES DUE TO YOUR pursual OF RESTORING CARS WHICH YOU ARE THEN ABLE TO transport 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 applicable INFORMATION WHICH SHOULD taper YOU IN DETERMINING IF YOU SHOULD REGISTER AS SELF busy FOR INCOME TAX PURPOSES. I HAVE overly INCLUDED INFORMATION REGARDING VAT REGISTRATION, ACCOUNTING AND ADMINISTRATION FOR YOUR CONSIDERATION. For your loosening I beat not conformed with the traditional memo la yout scarce have kind of broken the information down into cardinal 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 transactions are taxed differently. wherefore a number of tests have been developed 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 pull in seeking causality. It is not inescapably the existence of a get ahead that is important, it is the motive to earn angiotensin converting enzyme. If this motive has be en the initial constituent behind it then t! his is strong express of trading, but is in itself conclusive. Frequency and number of transactions A one send off or low number of...If you want to pretend a full essay, order it on our website: OrderEssay.net

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