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disclosure of interest paid to director

where a director has lent the company money do you disclose interest paid to him under transactions with directors?

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13th May 2012 00:17

Yes, of course

Assuming that you are preparing accounts under the FRSSE, it specifically includes directors as related parties.  Both the loan and any interest paid (with comparatives) need to be disclosed as transactions with related parties.

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15th May 2012 09:49

great thanks Euan - presumably the interest rate applied too?

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