UK Investing Abroad- Tax implications

[Lee Thomas]

My company is considering buying properties to rent out abroad. What are the tax implications.

 

[Shcoll]

My company has two separate legal entity tax credit properties. One of those has a rental subsidy both cash and revenue mistakenly booked on the wrong books, however, it was corrected with a Payable and a Receivable on both books.

Question: Can both accounts be offset to reconcile the account without payment of Cash ? Or we have to make cash payment to correctly remove the payable and the receivable off the books?