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?
- Stopping trading and de-registering for VAT 132 4
- LLP classification of division of profit 118 3
- Ltd company or sole trader 83 2
- Fee protection 111 2
- deductions for OMB companies 166 2
- Insolvent Liquidation 108 1
- insolvency ip control 156 1
- I know this has been done to death but IRIS / DIGITA / CCH??? 306 3
- Free Agent data? 99 1
- Generic PAYE notices 87 1
- Capital Allowances on Furnished Holiday Lets Business 130 3
- Mature student with NO GCSEs or A levels but with very solid 2:1 degree, needs help? 520 9
- Disengaging a client who uses our office as a registered office address 539 12
- What tax rules apply to oversea representative office employees in UK? 78 1
- UK company avoiding tax 194 2
- Finland 78 1
- With or without a practicing certificate 968 20
- Is HMRC iXBRL filing only available for small audit exempt companies 174 4
- What do you class as Research and Development for R&D Tax Relief 506 8
- Looking for free PDF creator 1,203 40
- Xtuple 480
- Qtac payroll for bureau 323
- Confused - Professional Association a Mutual trader, or not? 270
- Industrial & Provident Societies 260
- Data transfer from Sage Line 50 to VT Transaction+ 201
- Mehjoo 198
- Changes in NHS pensions 166
- VAT on commission from Oyster card top up, lottery & paypoint 165
- New strategic report 159
- South African Government Pension 138