Jump to content


Bad debt write off


paulwlton
 Share

style="text-align: center;">  

Thread Locked

because no one has posted on it for the last 4961 days.

If you need to add something to this thread then

 

Please click the "Report " link

 

at the bottom of one of the posts.

 

If you want to post a new story then

Please

Start your own new thread

That way you will attract more attention to your story and get more visitors and more help 

 

Thanks

Recommended Posts

I understand banks claim 30% corporation tax when they write bad debts off.

 

Is their a link anywhere regarding this issue?

 

Paul

An appeaser is one who feeds a crocodile, hoping it will eat him last. <br />

Winston Churchill

Link to post
Share on other sites

Don't know about a link but I do that sort of stuff for a living so I will try to clarify.

 

If a company has a bad debt written off, they can put it through their accounts as a cost thereby reducing their profit. Obviously if they can reduce their profit, they reduce their tax liability.

 

For example:

 

A company has profits chargeable to tax of 100K (Tax charge of 30K)

They have a bad debt write off of 10K

 

Therefore their new profit chargeable to tax is 90K (Tax charge of 27K)

 

So the company will pay 3K less tax.

 

I'll try to find a link and get back to you.

 

Spot:)

Spotnot v MBNA and their nasty solicitors (on behalf of my friend)

 

If I have helped in any way, click my scales.

 

Remember, we were all newbies once!!

 

When you win, donate!!!

 

Link to post
Share on other sites

Don't know about a link but I do that sort of stuff for a living so I will try to clarify.

 

If a company has a bad debt written off, they can put it through their accounts as a cost thereby reducing their profit. Obviously if they can reduce their profit, they reduce their tax liability.

 

For example:

 

A company has profits chargeable to tax of 100K (Tax charge of 30K)

They have a bad debt write off of 10K

 

Therefore their new profit chargeable to tax is 90K (Tax charge of 27K)

 

So the company will pay 3K less tax.

 

I'll try to find a link and get back to you.

 

Spot:)

 

Nice one I'll pm you later.

An appeaser is one who feeds a crocodile, hoping it will eat him last. <br />

Winston Churchill

Link to post
Share on other sites

 Share

  • Recently Browsing   0 Caggers

    No registered users viewing this page.


  • Have we helped you ...?


×
×
  • Create New...