Released 09 June 2021
The Financial Reporting Council (FRC) has issued Amendments to FRS 102 and FRS 105 – Covid-19-related rent concessions beyond 30 June 2021.
The amendments extend the application of requirements that cover the accounting treatment of temporary rent concessions occurring as a direct consequence of the Covid-19 pandemic until 30 June 2022.
The amendments are effective for accounting periods beginning on or after 1 January 2021, with early application permitted.
Further information can be found at https://www.frc.org.uk/news/june-2021/frc-extends-application-period-for-accounting-(1).