The discount rate now knows which day it belongs to

FRS 102 fixes a lease's discount rate to one particular day. A lease already running when the new rules start for you is measured at the rate for that date, whatever year it began (para 1.51(a)). A lease commencing after it uses the rate on its own commencement date (para 20.49). A rate is never refreshed simply because time has passed.

Lease102 now works out which day applies before it offers you a rate, and records the day each stored rate was taken for. The review screen and the lease form show the rate for the governing day, what it is built from, and a "Use this rate" button. It is offered rather than filled in, because the reviewer is the one attesting to the rate. Both screens now show where a rate came from: "OBR at 24 Aug 2026, SONIA 3.7311% plus 2.25% credit spread".

The reference rate for a given day is published the following working day, so a rate for a date still ahead cannot be known. Lease102 offers the latest published rate, marks it provisional, and says so plainly.

At transition, any lease still holding a rate taken before that date is listed: you either take the published rate for the transition date in one action, or tick to confirm you want to keep what you have. Nothing provisional is calculated silently. Afterwards, where a published rate differs from what a lease was priced at, Close Checks names both. Nothing is re-priced automatically, because the figures may already have been reported.