Covid-19-Related Rent Concessions beyond 30 June 2021
Project Type:
Endorsement
Status:
Completed
Milestone:
Final Documents
Completed Date: 12 May 2021
Effective Date: 1 April 2021
On 31 March 2021 the IASB published its amendment Covid-19-Related Rent Concessions beyond 30 June 2021 (Amendment to IFRS 16) (the March 2021 Amendment).
Background
The March 2021 Amendment only extends the availability of the optional practical expedient by a year—from payments due on or before 30 June 2021—to payments due on or before 30 June 2022. The practical expedient is conditional on the conditions set out in the May 2020 Amendments being met.
The Secretary of State for BEIS adopted the Amendments for use by UK companies on 12 May 2021.
Timeline
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2
Final Documents
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The UKEB published its Endorsement Criteria Assessment on 12 May 2021.
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1
Consultation
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The UKEB published its Draft Endorsement Criteria Assessment on 14 April 2021 for public consultation.
DECA - Covid-19-Related Rent Concessions beyond 30 June 2021
Invitation to Comment
Invitation to Comment - Covid-19-Related Rent Concessions beyond 30 June 2021
Invitation to Comment - Your details - Covid-19-Related Rent Concessions beyond 30 June 2021
The consultation closed on 5 May 2021.