UKEB secretariat’s draft comment letter on IASB’s ED/2020/4 Lease Liability in a Sale and Leaseback (Proposed amendment to IFRS 16)

Date: 03 February 2021

Open for comment until 1 March 2021:

The UK Endorsement Board secretariat’s draft comment letter on the IASB’s ED/2020/4 Lease Liability in a Sale and Leaseback  is open for comment until 1 March 2021. 

We welcome responses, both comprehensive and those addressing particular topics only. 

The draft comment letter:

  • Supports the IASB’s view that the information necessary to estimate asset fair values and future lease payments is likely to be readily available, either from the process used to price and approve the sale and leaseback transaction, or from other sources.
  • Observes an inconsistency in the definition of a variable Lease Payment between that used in IFRS16 and that proposed in the exposure draft, which could lead to potential inconsistency in financial reporting.
  • Proposes two solutions to align the definition of variable Lease Payment and considers the consequences of each approach.
  • Supports the IASB decision to require retrospective application.

We will consider all stakeholder feedback received by 1 March 2021 for inclusion in our final comment letter to the IASB.

Find invitation to comment here 

Find your details document here

Find response here

Contact Us

8th Floor
125 London Wall


Stay up to date

Subscribe to our newsletters and alerts by emailing and putting SUBSCRIBE in the Subject.

Your personal information submitted via this email will be processed in accordance with our Privacy Policy.

If you would like to unsubscribe, please email us