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

[Liam Bennett]

Just on a slight tangent: if the data in the account belonged to the other
company and the company is in liquidation then the account and its data
still belongs to the previous company. Not sure what the data is, but if it
has a value to Company B then shouldn't it have been part of the assets of
Company A that were sold in order to allow the receivers to pay some of the
debts of the previous company?

>
> Liam
>
> On Mon, Jan 7, 2013 at 4:59 PM, Tim Cowlishaw <tim at timcowlishaw.co.uk>wrote:
>
>> 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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>
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