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Back to basics: Tax on bad debts

Martin Mann and Vaughn Chown with your refresher guide.

With careful planning the impact of bad debts on a business can be reduced. In relation to VAT it is surprising how many businesses do not make a VAT bad debt relief claim. The aim of this article is to remind practitioners of the main tax aspects which should be considered when advising corporates.

Brief overview of corporate debt

Where a company stands in the position of a creditor or debtor as regards any money debt and the debt arises from a transaction for the lending of money a...

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