This part of the subsection is designed to ensure that all bad debt recovery will be treated as post-cessational receipts.
Of the £1,600 million, we would write off £400 million finally as a bad debt.
This will give automatic bad debt relief to businesses using the scheme.
I think he said it was a bad debt, and so it was, and it was never meant to be anything else.
Bad debt occurs much later than after three months.
The measure reducing from one year to six months the waiting period for bad debt relief will be welcome.
The problem of late payments—a close cousin of bad debt—is still acute.
Also, the bad debt record of housing associations is far better than any other part of the property sector.
