SCHEDULES
SCHEDULE 14Leases: changes to accounting standards etc
PART 3Changes to accounting standards and tax adjustments
14Cases where asset first recognised for an earlier period of account
1
This paragraph applies if the right-of-use asset falls (or would fall) to be first recognised for accounting purposes in the accounts of the lessee for a period of account earlier than the first period of account.
2
The change of basis provisions and this Part of this Schedule have effect—
a
as if there were a change of accounting policy with respect to the accounts of the lessee for the first period of account, and
b
as if the right-of-use asset falls (or would fall) to be first recognised for accounting purposes in those accounts.
3
In this paragraph “the first period of account” has the same meaning as in paragraph 13.