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?
- Expenses of overseas employment 74 1
- Can anyone recommend a good document scanner? 66 4
- Any Scottish members out there? 6,876 256
- business card address 40 2
- Tax implications for client leaving share incentive plan 66 2
- Artificially reducing profits by bonus accrual 201 8
- Standard 'email' template system 724 11
- Shutting down a company with creditors 812 9
- New Client in dispute with old accountant 138 2
- Starting as sole trader from abroad 118 5
- VAT Romania - how to register 191 4
- Donations (to a school!) 176 5
- Repairs after a rental business ends 196 6
- Am I allowed Rent A Room Relief? 482 10
- Beaters and allowable exenses 150 2
- Family loan 270 7
- FL Memo - Any Good 483 8
- 50% Shareholder & Director stealing money from the business 335 8
- Private Residence Election for CGT purposes 243 4
- Looking for subcontract work! 291 5
- Raiders of the Lost Tax File 1,092
- Chartered Accountant in County Down N.Ireland 358
- IPP (International Pension Plan) income 296
- National Insurance 257
- valuation of intangible asset FRS10 and FRS20 231
- Joint construction arrangement CIS and VAT 230
- Payments on account coded out?? 217
- Cass 5 FCA Client Money Software recomendation 214
- Non Resident 177
- Franchise income and costs 168