Our amazing new product contains a full Lease Register and as far as we know is the only product on the market which is bespoke NHS and complies fully with DHSC/NHS Guidance. CARS will continue to be updated to reflect reporting requirements as they are released.
CARS will apply the correct treatment for the migration of Finance and Operating Leases. It accounts for IFRS 16 Leases, Short Term Leases, Low Value Assets and Peppercorn rents. Future releases will introduce accounting for variable lease payments, rent-free periods, reassessment of lease liability and terminating leases.
Leases can be entered individually into the register, or imported in bulk using the spreadsheet provided. CARS can then be used to create matching Right of Use assets.
We have also provided reports to assist the user with their returns – for example they could use the Lease Migration Report and the Lease Repayment Schedule to assist with their January 2020 return.