News alert / Update to the DHSC's group accounting manual 2023/24

22 January 2024

The DHSC has issued five updates to the Group accounting manual 2023/24 (the GAM) - the first three are updates that are made each year:

  1. Changes to the HM Treasury discount rates 2023/24 - this is an annual update, in general, rates have increased from 2022/23 other than the general provisions inflation rates
  2. Confirmation that the probability of non-recovery of injury costs recovery revenue is 23.07%
  3. Confirmation that the pension contribution treatment established in 2019/20 continues to be employed
  4. Four changes that reflect changes to the Financial reporting manual - the one that is likely to impact on NHS bodies the most relates to climate related financial disclosures. The update provides early warning that these disclosures will be part of the consultation on the GAM 2024/25 and will be adopted into the GAM 2023/24 as part of the April 2024 update
  5. Four other updates:
  • how the impact of the public service pensions remedy should be reflected in the senior managers' pension disclosures
  • the disclosures required by the NHS code of governance
  • confirmation that there are no types of transfer by absorption that should be applying the modified absorption accounting approach
  • correction of a reference to the promotion of equality of service delivery.


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