Lessee accounting under IFRS 16 usually results in an interest expense being recognised in the profit and loss account, resulting in some interaction with the CIR rules.
For periods of account beginning on or after 1 January 2019, IFRS 16 removes the distinction between finance and operating leases and instead requires assets and liabilities from all but exempt lease agreements to be recognised on the balance sheet.
For CIR purposes, however, this distinction remains important. Interest expenses relating to leases that would previously have been classified as operating leases under IAS 17 are not restricted under CIR and will need to be removed from calculations. On the other hand, interest expenses relating to leases that would previously have been classified as finance leases will need to be factored into calculations and may be subject to restriction.