Tax advice for Academies
Are you considering converting to an Academy?
For many schools this is an attractive option, but one that brings with it a degree of uncertainty, and a lot of questions.
We are aware of the many questions you have as you consider the option, start the conversion process and face the challenges of running your school independently of the local authority.
We can advise on:-
- Assisting School Governors as they seek Academy status
- Ascertaining the financial position - including treatment of land, buildings other assets, funds and surpluses and financial liabilities
- Setting up financial management and reporting systems for day-to-day management and corporate governance
- Advising the governors on their responsibilities as company directors / charity trustees
- Providing advice and support to school officers, business and finance managers on all aspects of year-end procedures and accounting requirements
- Advising on requirements relating to Company, Academies and Charity legislation
- Advice on VAT, and minimisation of tax liabilities
Running an Academy
- Financial management in accordance with DfE guidelines
- Year-end reporting and management accounts
- Strategic advice
- Funding
Our accounting and tax services for Academies includes
- Audit and Annual Accounts preparation
- Advice and guidance on the interpretation of the accounts to Governors
- Accounting Software
- Payroll management
- Advice on corporation tax
- Advice on VAT compliance
- Fee protection – HMRC investigations
- Internal Audit and Risk Management
We also work closely with Northern Education Associates Ltd, a long established and renowned School Improvement Partners and we are co-founder members of their Expert Network.
For further information or a free initial consultation from a specialist tax advisor please contact Anthony Josephs on 0191 256 9500 or email anthony.josephs@r-m-t.co.uk
