[LRUG] To be paid or not to be paid, that is the question (sort of)

[Tim Cowlishaw]

On 7 January 2013 16:30, Anthony Gardner <notantspants at gmail.com> wrote:

>  I'm not a business person, but I would write it off and put it down to
> experience (PIDTE - do you think that will catch on?) And anyway, won't you
> be able to offset the loss at year's end to reduce your tax liability?
>
> Yup - your profit and loss account should include an entry for Bad Debts,
which you use for exactly this eventuality. Your accountant will be able to
sort this out for you.
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