UK company has issued € share capital however the accounts are prepared in GBP. Is it right that the share capital value shown by the balance sheet is at the historic rate and the unpaid € amount (holding company debtor) is shown at the balance sheet rate with any fx differences being a non-trading loan relationship?
Many thanks for confirmation.
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Is the shares equity or debt? Equity does not get revalued, but if it was debt it would be.
Can't help you on the tax implications, sorry. Has the unpaid amount been called up (ie is it really a debtor) though? Mistakes there are quite common and would possibly solve the problem.
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