Hi,
Got myself confused and accountant is away so thought i'd check my sanity here
My accounting year for this year is 1 Feb 2015 to 31 Jan 2016
I took a 4K Dir Loan on 10 Feb 2015
I'm calculating I need to repay by 1 Oct 2016 (9 months and one day from end of accounting year).
Or is it by Oct this year (2015) ?
Also, if I pay it back within the time limit there is no interest to pay ?
Ta in advance !
Got myself confused and accountant is away so thought i'd check my sanity here
My accounting year for this year is 1 Feb 2015 to 31 Jan 2016
I took a 4K Dir Loan on 10 Feb 2015
I'm calculating I need to repay by 1 Oct 2016 (9 months and one day from end of accounting year).
Or is it by Oct this year (2015) ?
Also, if I pay it back within the time limit there is no interest to pay ?
Ta in advance !
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