Hi Can anyone advise if you can claim the VAT back on till shortages. When I post the till total I have to account for what should have been in the till and so VAT is charged on the full amount, so when I pass the till difference, can I reclaim the vat back?
If the money has been stolen then the VAT may be reclaimed but not withheld.
A police report of the theft would suffice as sufficient evidence for VAT purposes.
If no theft gas taken place and this is simply incorrect change being given then the VATman will not compensate business owners for mistakes so no, youu would not be able to reclaim VAT on shortfalls unless theft can be proven.
kind regards,
Shaun.
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
