A client company made a loan to a personal friend of the director for approx. £30K. The director wishes to write the loan off. What is the accounting procedure and tax implications of doing this? Will the company be able to claim a capital loss? Am I right in thinking that the loan does not fall into the Loan Relationships regime?
15th Feb 2021
Company loan to a friend of the director - w/off
Accounting and tax treatment of a company writing a loan off made to a friend of the director.
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