• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
Free ACCA & CIMA online courses from OpenTuition

Free ACCA & CIMA online courses from OpenTuition

Free Notes, Lectures, Tests and Forums for ACCA and CIMA exams

  • ACCA
  • CIMA
  • FIA
  • OBU
  • Books
  • Forums
  • Ask AI
  • Search
  • Register
  • Login
  • ACCA Forums
  • Ask ACCA Tutor
  • CIMA Forums
  • Ask CIMA Tutor
  • FIA
  • OBU
  • Buy/Sell Books
  • All Forums
  • Latest Topics

June 2025 ACCA Exams

How was your exam? Comments & Instant poll >>

20% off ACCA & CIMA Books

OpenTuition recommends the new interactive BPP books for September 2025 exams.
Get your discount code >>

Adjustments for Corporation Tax – Impairment

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › Adjustments for Corporation Tax – Impairment

  • This topic has 1 reply, 2 voices, and was last updated 6 years ago by Tax Tutor.
Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • May 4, 2019 at 4:09 pm #514933
    learning1
    Participant
    • Topics: 7
    • Replies: 3
    • ☆

    Hi,

    I’ve done a question recently where I had to make adjustments to the profit and loss statement for taxation purposes (corporation tax)

    The accounting period was year ended 31 March 2017.

    The company wrote off an impairment loss of £1,600 relating to a trade debt. This was in respect of an invoice which had been due for payment on 10 November 2016.

    I thought that this was less than 6 months from the due date and therefore was not allowable. I thought the debt needed to be six months old. I therefore added £1,600 back to the statement of profit and loss.

    But in the answer they made no adjustment. Can you help me understand where my thinking is going wrong please?

    Many thanks in advance.

    PS. an amazing website and amazing lectures. Thank you very much indeed!

    May 5, 2019 at 10:12 pm #515039
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    You are confusing the VAT rule for recovery of the output VAT on a bad debt with the adjustment of profit issue.

  • Author
    Posts
Viewing 2 posts - 1 through 2 (of 2 total)
  • You must be logged in to reply to this topic.
Log In

Primary Sidebar

Donate
If you have benefited from our materials, please donate

ACCA News:

ACCA My Exam Performance for non-variant

Applied Skills exams is available NOW

ACCA Options:  “Read the Mind of the Marker” articles

Subscribe to ACCA’s Student Accountant Direct

ACCA CBE 2025 Exams

How was your exam, and what was the exam result?

BT CBE exam was.. | MA CBE exam was..
FA CBE exam was.. | LW CBE exam was..

Donate

If you have benefited from OpenTuition please donate.

PQ Magazine

Latest Comments

  • mm3677 on IAS 16 Accounting for a revaluation – CIMA F1 Financial Reporting
  • Anastesia123 on MA Chapter 1 Questions Accounting for Management
  • John Moffat on MA Chapter 26 Questions Variance Analysis
  • acowtant on Changes in group structure – examples – ACCA SBR lectures
  • Samantha96 on The Statement of Financial Position and Income Statement (part a) – ACCA Financial Accounting (FA) lectures

Copyright © 2025 · Support · Contact · Advertising · OpenLicense · About · Sitemap · Comments · Log in