GovWire

Many academy trusts take out leases to support day-to-day operation. This can be a sensible value-for-money approach as an alternative to buying assets outright.

IFRS 16 leases will introduce changes to the leasing arrangements for maintained schools from 1 April 2024.

From 1 September 2024, leasing arrangements for academy trusts will change to provide the same flexibilities as maintained schools to enter into certain leases without prior Secretary of State for Education approval.

Changes to leasing agreements for academy trusts outlines the changes taking place and provides a list of the type of assets granted prior consent.