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trading income

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › trading income

  • This topic has 1 reply, 2 voices, and was last updated 10 years ago by Tax Tutor.
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  • May 20, 2015 at 6:12 am #247286
    amna
    Participant
    • Topics: 92
    • Replies: 93
    • ☆☆

    how will the bad debt recovered be shown when adjusting to find the taxable trading profit?
    will it be shown as zero as it is already included in the accounting net profit?

    May 20, 2015 at 5:52 pm #247443
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    As the bad debt recovered is now taxable, if the amount is already included in the accounting profit then a zero adjustment will indeed arise

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