B2.117 Introduction to unremittable amounts
Tax relief is available for overseas trade debts that cannot be remitted to the UK because of exchange control restrictions or because of a shortage of foreign currency in the debtor's country. Such debts are not bad or doubtful debts and have their own separate relief. For income tax purposes the provisions apply to professions and vocations as they apply to trades1. They do not, however, apply where the profits are calculated on the cash basis for businesses2 (see B2.111 and
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