Statements

What goes on a year-end summary?

A year-end summary is a single document that pulls together a whole financial year of activity on your facility. For your accountant it is often the most useful thing you can hand over, because it saves adding up twelve statements by hand.

What it shows

Typically the total interest and fees paid over the year, the movement in the balance across the period, and the total repaid — the headline figures for the accounts and the tax return. See what a year-end summary is for and getting a record of total interest paid.

How your accountant uses it

They post the cost of borrowing, confirm the liability, and pull the deductible interest figure. See using your statement for VAT and Corporation Tax and which charges are tax-deductible.

Getting one for your period

Your accounting period may not match the calendar year, so make sure the summary or the statements cover the right dates. See a statement covering your financial year.

Credicorp lends to companies rather than to you personally, so this is business finance outside the consumer-credit regime. That does not change the practical steps below.

See also: What a year-end summary document is for, Getting a record of total interest paid, Using your statement for VAT and Corporation Tax.

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