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Frs 102 operating leases disclosure

For the disclosures of operating leases payable within 1 year and between 1-5 years, would this be net of Vat?

I presume it is but I'm looking at paragraph 20.15 on FRS102 and it does not say it has to be net of taxes


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23rd Oct 2018 16:55

Yes it’s net of VAT.

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23rd Oct 2018 17:15

Or, to be pedantic, it's net of recoverable VAT.

If you're looking for logic for this where it's not explicitly stated, then I would say that the disclosure should follow what will be shown in the P&L.

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