Blogger
Share this content
0
2
1058

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?

Replies

Please login or register to join the discussion.

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.

Thanks (1)

great thanks Euan - presumably the interest rate applied too?

Thanks (0)