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For lessees听accounting for right-of-use听补蝉蝉别迟蝉, the timing of the recognition of amounts payable under a lease may change.听

The lessee will recognise assets and liabilities for all leases with a term of more than 12 months, unless听the underlying asset is of low value. The lessee will recognise a right-of-use asset representing听its right to use the underlying asset and a lease liability representing听its obligation to make lease payments.听

The lessee will recognise depreciation of the right-of-use asset and interest on the lease liability.听

厂别别鈥�BLM50005鈥痜or more details of accounting听for right-of-use听补蝉蝉别迟蝉听and鈥�BLM17000鈥痜or more details of the accounting for such changes.听

IFRS听16

Because of the requirement to recognise the finance cost element (the interest charge) as an amount which maintains听a constant rate on the outstanding liability, the accounting profit and loss charges will be accelerated compared with operating leases under pre-IFRS 16 accounting.听The finance cost will be higher in the earlier years of a lease because the amount of the liability is also higher in those years.听

All of听a lessee鈥檚 existing leases will be evaluated on adoption of IFRS 16, and a transitional adjustment is likely to arise on many leases previously accounted for as operating leases when comparing IFRS 16 to IAS 17 or FRS 102. Adjustments will also depend on the transition method adopted 鈥� see BLM17050.听

听

FRS听102 (2024 amendments)听

These changes introduce the same framework for lessees as IFRS 16, however听the听general requirement for the lease liability to be equal to the right-of-use asset will mean there will be fewer听situations where a transitional adjustment is likely to arise.

The听legislation in schedule 14 to Finance Act 2019 requires transitional adjustments resulting from the adoption of an accounting standard introducing right-of-use听补蝉蝉别迟蝉 to be spread over several years. This smooths the tax effect of the change.听

Where a right-of-use听asset in respect of an existing lease is first recognised on adoption of a relevant accounting standard in a period of account beginning on or after 1 January 2019, a lessee is required to spread all adjustments required in consequence of that adoption across the mean average length of the leases which have given rise to the adjustments.听

听

听