Guidance

DHSC: IFRS 16 implementation guidance

Information for the department's ALBs and NBs on the timing of International Financial Reporting Standard 16 (IFRS 16) implementation activity.

• From: Department of Health and Social Care
• Published: 3 December 2019
• Last updated: 25 November 2021
  Show all updates

  1. 25 November 2021

     Updated the 'Details' text on this page to reflect the application of the standard for the 2022 to 2023 financial year.

  2. 15 October 2021

     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. 2 April 2020

     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. 3 December 2019

     First published.

Documents

Group accounting manual: IFRS 16 supplement

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Group accounting manual: IFRS 16 supplement

PDF, 410 KB, 40 pages

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 department’s Group Accounting Manual.