Question asked:


A company incurred legal fees in relation to a convertible loan it received.
The convertible loan is of 3 years maturity, interest payable 8%. Can be converted into shares at any point.
How are these expenses to be accounted by the company
How to account for costs incurred – capital vs expense?
Is the VAT (in relation to same) to be accounted as input or disallowed?

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Asked on 8 April 2019 12:10 pm