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Sam, Accountant
Category: Tax
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how are theft losses including larceny embezzlement treated

Customer Question

how are theft losses including larceny embezzlement treated in a uk tax return
Submitted: 3 years ago.
Category: Tax
Expert:  bigduckontax replied 3 years ago.
Hello, I'm Keith and happy to help you with your question.

Before I can answer I need a little more information. From what were the thefts made, your personal or business moneys?
Customer: replied 3 years ago.

the funds were in a bahamas trust of whdh i was the beneficiary. money went missing & i took the trustees to court & got a judgement for $400,000. i have been trying to collect for 8 years. i now have no choice but to write it off as uncollectable. please reply [email protected]

Expert:  bigduckontax replied 3 years ago.
Sorry to be a pest, but did you pass this through an earlier tax return as income?

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