Leasing for academy trusts
Information on leasing activities for academy trusts from 1 September 2024 following the introduction of international financial reporting standard (IFRS 16 leases).
- From:
- Department for Education
- Published
- 28 March 2024
- Last updated
- 20 January 2025 — See all updates
Applies to England
Documents
Details
Many academy trusts take out leases to support day-to-day operation. This can be a sensible value-for-money approach as an alternative to buying assets outright.
IFRS 16 leases willintroduced introduce changes to the leasing arrangements for maintained schools from 1 April 2024.
FromSince 1 September 2024, leasing arrangements for academy trusts will change to provide the same flexibilities as maintained schools to enter into certain leases without prior Secretary of State for Education approval.
‘Changes to leasing agreements for academy trusts’ outlines the changes taking place and provides a list of the type of assets granted prior consent.
Updates to this page
Published 28 March 2024
Last updated 20 January 2025
+ show all updates
-
Added 'Leasing guidance for academy trusts' and updated existing text to reflect that the IFRS 16 rules are now in effect.
-
First published.
Sign up for emails or print this page
Details
Many academy trusts take out leases to support day-to-day operation. This can be a sensible value-for-money approach as an alternative to buying assets outright.
IFRS 16 leases willintroduced introduce changes to the leasing arrangements for maintained schools from 1 April 2024.
FromSince 1 September 2024, leasing arrangements for academy trusts will change to provide the same flexibilities as maintained schools to enter into certain leases without prior Secretary of State for Education approval.
‘Changes to leasing agreements for academy trusts’ outlines the changes taking place and provides a list of the type of assets granted prior consent.
Updates to this page
Published 28 March 2024
Last updated 20 January 2025
+ show all updates
-
Added 'Leasing guidance for academy trusts' and updated existing text to reflect that the IFRS 16 rules are now in effect.
-
First published.
Sign up for emails or print this page
Details
Many academy trusts take out leases to support day-to-day operation. This can be a sensible value-for-money approach as an alternative to buying assets outright.
IFRS 16 leases willintroduced introduce changes to the leasing arrangements for maintained schools from 1 April 2024.
FromSince 1 September 2024, leasing arrangements for academy trusts will change to provide the same flexibilities as maintained schools to enter into certain leases without prior Secretary of State for Education approval.
‘Changes to leasing agreements for academy trusts’ outlines the changes taking place and provides a list of the type of assets granted prior consent.
Updates to this page
Published 28 March 2024Last updated 20 January 2025 + show all updates
-
Added 'Leasing guidance for academy trusts' and updated existing text to reflect that the IFRS 16 rules are now in effect.
-
First published.