How to treat a company loan written off in company tax computation

Posted by cde123 PM | on Mon, 14/05/2012 - 16:52 1666 3 comments | report

A Ltd Company made a loan of 30k to a new start up Ltd company back in 2007.

Eventually the new venture company failed still owing the 30k.

The lending company has now sold its freehold factory and there is a gain arising of 50k subject to CT.Can the loss on the irrecoverable loan now be offset against the gain on the factory.?

Thanks for any help

Comments

There are 3 comments. Login or register to view them.

corp tax

Fidodido | Mon, 14/05/2012 - 17:12

Non trading

cde123 | Mon, 14/05/2012 - 17:23

Loan relationships v Loans to traders

Steve Kesby | Tue, 15/05/2012 - 09:09