Academies

We provide the following annual compliance services:

• Assistance with the preparation of annual accounts and trustees report
• Audit work under Companies Act and regularity audit work as required by the ESFA
• Assistance with completion and certification of ESFA Annual Accounts Return
• Review of Budget Forecast Returns
• Audit of contributions to Teachers Pension Scheme
• Teaching schools – certification of grant returns
• Review of compliance with the Academy Trust Handbook

Internal audit

External auditors cannot also be the Internal Auditor of an Academy Trust. We have extensive expertise in the provision of internal audit services to an increasing number of non-audit client trusts, which is provided by a specialist team. Contact us for more details.

How our academies team can assist:

• Assisting and supporting schools during the conversion process
• Advising on organisational structure in Multi-Academy Trusts
• Choosing suitable accounting systems and structuring the chart of accounts to make the production of financial reports and ESFA returns relevant to your trust
• Developing appropriate monthly management information for your finance team to present to your Audit Committee
• Supporting the finance team as it develops necessary additional skills
• Reviewing and advising on financial regulations and annual changes to the Academy Trust Handbook and Academies Accounts Direction

We also provide tax and advisory services:

• Advice on corporation tax status of generated income and on establishment of trading subsidiary company if necessary
• Employment taxes – advice and support
• Financial due diligence in relation to schools joining a trust; or the trust which a school is proposing to join
• Training for academy trustees, governors and members of Senior Leadership Teams
• Conversion to academy status

Tax advice for Senior School leavers – ASCL partnership

At BHP, we have a dedicated team of tax professionals who advise senior school and college leaders on all aspects of taxation.
This includes the completion of tax returns in addition to capital gains tax, including the new legislation for disposal of residential property and inheritance tax.

The pension legislation can be particularly complex and daunting for education professionals, and many find to their surprise that they have historical pension issues that they were completely unaware of, until they receive the letter from Teachers Pensions Authority advising them of the position. This letter can go back several years and if there is a pension breach, then a tax charge could arise for more than one year.

We work closely with a financial advisor who is also an expert in this field, and together, we produce a calculation of pension contributions and pension breaches and then discuss the options available regarding taxation of these breaches, which includes a request for Scheme Pays or paying HMRC via your Self Assessment tax return. We can help you understand your options and the likely tax consequences. Please contact peter.dobson@bhp.co.uk.