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Guidance: DHSC: IFRS 16 implementation guidance

Department Of Health

November 25
13:00 2021

Details

IFRS 16 Leases for bodies applying the Financial Reporting Manual (FReM) has been postponed in the public sector to 1 April 2022.

DHSC is revising the implementation timetable and will publish a new version.

The supplement provides information on the implementation of the standard. It advises group bodies that are required to implement IFRS 16 in their statutory accounts for 2019 to 2020 on how best to align with DHSC group policies when the standard is adopted by the Government Financial Reporting Manual in 2022 to 2023. It also helps other group bodies adopting the standard in 2022 to 2023 to develop their preparedness.

The supplement should be read with the departments Group Accounting Manual.

Published 3 December 2019
Last updated 25 November 2021 +show all updates
  1. Updated the 'Details' text on this page to reflect the application of the standard for the 2022 to 2023 financial year.

  2. Minor updates have been made to update the financial years referenced in the document as well as updates made to the guidance around discount rates and approach to irrecoverable VAT under IFRS 16.

  3. The 'DHSC IFRS 16 implementation timetable' has been removed. The IFRS 16 Leases for bodies applying the Financial Reporting Manual (FReM) has been postponed in the public sector to 1 April 2021. DHSC is revising the implementation timetable and will publish a new version.

  4. First published.

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