Code of Practice on Local Authority Accounting in the United Kingdom: Guidance Notes for 2025/26 Accounts
Summary
These Guidance Notes offer constructive advice and assistance to practitioners and external auditors on all aspects of the detailed application and implementation of the Code of Practice on Local Authority Accounting in the United Kingdom 2025/26.
The Guidance Notes are your expert support in dealing practically with the preparation of the year-end financial statements and reports that accompany them.
Available for pre-order; publication date November 2025.
Format
Online
Published
November/2025
Author
CIPFA
£2,020.00 excl VAT
Add to basket
This year’s edition of the Guidance Notes provides detailed guidance on the key accounting changes introduced by the Code of Practice on Local Authority Accounting in the United Kingdom 2025/26 (the Code).
This edition introduces a substantial and significant accounting change due to CIPFA/LASAAC having regard to HM Treasury’s Thematic Review on Non-investment Assets. The key accounting changes in this edition of the Guidance Notes include the following:
- For property, plant and equipment, a revaluation is required once every five years or on a five-year rolling basis, supported by indexation in intervening years. In the rare cases where no index is available, local authorities may use a desktop valuation in year three instead of indexation.
- Intangible assets must be measured at historical cost.
- A clarification that undertaking a full revaluation should not be a default process to demonstrate there has not been a material impairment of an asset.
Other key changes include:
- Transitional arrangements for IFRS 16 have been removed.
- Updates included to detail Delivering Good Governance in Local Government: Framework.
- Updates to reflect changes to pooled investments.