Vat on stolen takings
Client called this morning to advise that her pub was broken into last week.
As it happens two days takings were stolen as well as the cash in the games machines.
The till receipts have also went missing and they can not provide evidence as to what the takings were for the two days, (they can of course make a best estimate).
Insurance policy is only paying out max £500 in total.
I have not came across this before, how should we account for the lost takings (if at all), in particular the vat element?
- Valuing my fast-growing internet business for transfer of goodwill on incorporation 119 2
- How do you find shareholders of a Cyprus Company ? 174 12
- HMRC won't let me set up online DD for PAYE 114 2
- You know its over 217 3
- What is the amount of dividends received as a shareholder that requires registration for self assessment? 149 3
- Cocaine anyone? 450 8
- Late Registration for VAT 469 13
- EIS/SEIS 129 1
- Amortisation of Goodwill 256 1
- TaxCalc Accounts production 398 5
- Depression - HMRC penalties case won because of this illness. 396 12
- Solicitors now, Accountants next 663 10
- How come if you claim benefits you are not entitled to you either have to pay a 50% penalty or are sent to court and either fined or sent to prison (sometimes suspended) and end up with a criminal record. 531 10
- ACCA - still making me laugh 555 4
- Personal pension 390 9
- Legal Aid Agency claims and VAT 214 1
- How much of your work is admin? 1,198 11
- Accountancy practices - are you closed over Christmas or do you let your staff take it off? 898 27
- Petrol expenses for self-employed 135 3
- Is Co House "losing" Abbreviated Accounts? 1,510 22
- Hive up 480
- Accounting referance change & deficient accounts. 445
- corporate hierarchy 428
- Advice - 263
- Anyone had HMRC refusing to act on EPS database glitch? 217
- WWOOFers 212
- Co. limited by Guarantee now closed 200
- Art Gallery - Splitting a property between business and personal use 190
- Mutual Trading - Exempt CT Income - Do I need clearance? 170
- Tax liabilities in USA for warehoused products 166