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I'm not an accountant, no.
I thought I'd try on here, amongst other options, as contractors are more fun than accountants. But, I'll take the hint and head off to accountingweb.... :wink
Thanks VectraMan.
Northernladuk - it's my job basically! I'm new into this role, and there are aspects of it I have no experience of, so am using it as a learning opportunity
Thanks
Thanks
Thanks for the response. So as we have the waiver letter will be treated as non-taxable.
Apologies, but I'm very new to this, so my knowledge is somewhat lacking on this area. Should it be shown as a write-off or can the loan just be reduced down?
Hi,
A question on writing off part of a loan. A holding company has loaned money to another company and has decided to write off part of the loan. How should this be shown in the books? The directors of the holding company have signed a waiver letter.