BLM50010 - Right-of use assets: commercial and tax impact of right-of-use assets
A right-of-use lessee바카라 사이트™s accounts will look significantly different to the accounts prepared under any previous standards.바카라 사이트¯ If the lessee previously had operating leases, those leases are now recognised on the balance sheet.바카라 사이트¯Â
The biggest change is in the treatment of property leases.바카라 사이트¯ Under previous standards, most property leases would have been operating leases with the accrued rentals going through the profit and loss account.바카라 사이트¯ All right-of-use assets are reported on the balance sheet.바카라 사이트¯ Property leases are not exempt.바카라 사이트¯Â
The Schedule 14 FA 2019 changes were designed to ensure that there is no tax advantage or disadvantage to lessees when they move to reporting right-of-use assets. The only change for tax could be timing differences arising from differences in how lessees under operating leases and right-of-use leases account for the cash rentals.바카라 사이트¯ If you discover any situation where a lessee is accounting for right-of-use assets and there is an unexpected tax consequence, please contact BAI.