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Investment property under new UK GAAP

Section 16 of the accounting standard FRS 102 sets out accounting and reporting requirements for investments in land or buildings. Find articles, books and online resources providing quick links to the standard, summaries, guidance and news of recent developments.

General guidance and information on the accounting standard is available from our FRS 102 page.

What's on this page?

  • Full-text standard
  • Model accounts
  • Guidance and support from ICAEW
  • eBooks
  • Guides
  • Online articles
  • Articles and books from the Library

Contact the Library

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Full-text standard

FRS 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland
As issued by the Financial Reporting Council (FRC) in September 2015. This updated edition incorporates amendments issued in September 2014, February 2015, March 2015 and July 2015. Investment property is covered in Section 16.

More information and links to previous versions and amendments are available on our main FRS 102 page.

Model accounts

Model accounts and disclosure checklists for new UK GAAP
The ICAEW Library can provide model accounts and disclosure checklists for FRS 101, FRS 102, FRS 102 Section 1A, FRS 103 and FRS 105. The examples and checklists cover a broad range of entities, including small companies, charities, groups, LLPs and micro-companies.

ICAEW guidance and support

FRS 102: How is investment property accounted for?
This diagram summarises the basic accounting for investment property under FRS 102, which requires that investment property is accounted for at fair value with gains and losses passing through the profit and loss account.

The new UK GAAP
ICAEW's financial reporting portal offering practical resources on the new regime, including guidance factsheets and FAQs covering key topics.

Ask ICAEW Technical Advisory Service

Get an opinion from the experts. Our experienced technical advisors can help you with your new UK GAAP questions and offer practical advice. Call the advisory helpline on +44 (0)1908 248 250.

Questions we've dealt with recently include:

  • Do I need to hold my trade debtors at amortised cost under FRS 102?
  • When do I have to apply FRS 102 to my UK company client?
  • How does FRS 102 impact charities?

Find out more about the Technical and ethics advisory helpline, including our opening hours.

Financial Reporting Faculty

Financial Reporting Faculty
The faculty offers assistance and support in IFRS, UK GAAP and other aspects of business reporting. It offers technical briefings and factsheets, IFRS and UK GAAP standards-trackers, plus practical advice from industry experts and working accountants.


The Library provides full text access to a selection of key business and reference eBooks from leading publishers. eBooks are available to logged-in ICAEW members, ACA students and other entitled users. If you are unable to access an eBook, please see our Help and support advice or contact library@icaew.com.

Interpretation and application of UK GAAP for accounting periods commencing on or after 1 January 2015
Steve Collings (2015)
A detailed, practical guide to applying UK GAAP with specific sections and examples covering:

  • Summary of the key differences between FRS 102 and 'old' UK GAAP: Investment properties
  • Property, plant and equipment and investment properties
  • Qualifying criteria for investment property
  • Accounting treatment for investment property
  • Investment property subject to leasing arrangements
  • Deferred tax issues relating to investment property
  • Reclassification of investment property to property, plant and equipment
  • Transitional issues
  • Disclosure issues.

UK GAAP 2017: Application of FRS 100–104 in the UK
EY (2017)
This guide has been fully updated to reflect the application of the new accounting standard in practice. It focuses on each area of the financial statement in detail and explains how they are treated by FRS 102, with illustrative examples. The chapter on investment property covers:


Some guides and comparisons that we link to may pre-date the latest amendments to this standard. While these resources contain useful information, please treat them with appropriate caution.

Fact Sheet 5 – FRS 102: Property: Fair Value Measurement
FRC, December 2018
Staff factsheet focusing on how to account for a remeasurement to fair value for investment property and as property, plant and equipment.

Staff Education Note 4: Investment properties
FRC, December 2013
Guidance note produced by the FRC comparing the accounting treatment for investment properties under SSAP 19 and FRS 102.

Investment property under FRS 102 
Business Edge bulletin from BDO, published in October 2013, giving an overview of changes.

Financial Reporting Standard 102: Tangible fixed assets and investment properties 
Factsheet from Crowe Clark Whitehill summarising key changes to UK GAAP. Published in September 2013.

New UK GAAP – Impact on real estate entities
Guide from Deloitte, published in July 2013, examining the main issues within FRS 102 affecting property.

Online articles

The Library provides access to leading business, finance and management journals. These journals are available to logged-in ICAEW members, ACA students and other entitled users subject to suppliers' terms of use.

Articles are available to logged-in ICAEW members, ACA students and other entitled users.

Articles from other sources

FRS 102: Investment property
AccountingWEB, November 2018
This article addresses the confusion surrounding the accounting treatment for investment property under FRS 102, discussing undue cost or effort exemptions, investment property within a group, and micro-entities.

Small business accounts: Investment property - part 5
CCH Daily, April 2017
This article examines the key new UK GAAP changes for small businesses accounting for investment property and explains how small rule changes can create substantial challenges. It discusses the definition of investment property, accounting requirements, assessing fair value, gains and losses, qualifying as a micro entity, FRS 105 accounting, and transitional exemption and depreciation. Available online to Accountancy Daily subscribers or in print from the Library.

FRS 102: Accounting for investment property - tips and advice
CCH Daily, December 2016
Helen Lloyd FCA assesses the latest GAAP rules for accounting for property investments with a specific focus on those applying to section 16 of FRS 102. Available online to Accountancy Daily subscribers or in print from the Library.

Choosing the right FRS: accounting for investment properties
CCH Daily, October 2015
This article considers new UK GAAP choices when accounting for investment properties, assessing the pros and cons of FRS 102, IFRS and FRS 105, the replacement for FRSSE. Available online to Accountancy Daily subscribers or in print from the Library.

FRS 102 case study: Investment properties, errors
CCH Daily, March 2015
Detailed case study looking at how to account for investment properties, historic errors and holiday pay accrual in a retail group. Available online to Accountancy Daily subscribers or in print from the Library.

FRS 102: Investment property issues clarified
Article from AccountingWEB by Steve Collings examining the definition of investment property, group accounts, deferred tax implications and fair value gains.

FRS 102: Part 7 - Investment properties
CCH Daily, January 2014
Seventh in a series of articles exploring where FRS 102 differs from current UK GAAP. Assesses the accounting treatment for investment properties, encompassing the strict valuation basis, movements in fair value (according to profit rather than equity), consolidated accounts, impairment and deferred tax. Available online to Accountancy Daily subscribers or in print from the Library.

Articles and books in the Library collection

To find out how you can borrow books from the Library please see our guide to book loans.

You can obtain copies of articles or extracts of books and reports by post, fax or email through our document supply service.

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