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?
- Tips on meals 146 2
- Buy Samsung Galaxy Note 5 509 10
- Rental losses on jointly owned property 132 3
- Personal Tax 719 13
- Overpaid In Employers NI - RTI EYU for hundreds of employees 142 2
- Stumped - IHT 107 2
- Leaving the VAT FRS Scheme or trying to stay as long as possible? 406 6
- No PAYE Registration but need auto enrolment 469 11
- HMRC now overriding SA bank repayment details on tax returns 1,280 33
- Credit management tools 117 1
- property capital gains 122 1
- Write an article on latest tax changes for landlords. 771 20
- Incorporate to utilise dividend allowance next year? 380 7
- CGT and primary residence 163 1
- Marriage Allowance 257 3
- Private doctors - Ltd company vs partnership 1,148 12
- S455 and February year ends 315 7
- HMRC having technical difficulties 886 18
- Closing down loss-making company 451 5
- S.455 Tax again 285 3