How can we help?
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
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
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.
Here to help
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
Academy Accounts Direction 2022-2023 – What is new?
The Academies Accounts Direction 2022-23 and related documents applying to financial statements for the year ended 31 August 2023 were published in April 2023.
ESFA published a supplementary bulletin to the AAD in 2020/21 which covered reporting of Covid-19 impacts and Academy Trusts are reminded that this remains applicable. The key implication is disclosure of Covid recovery grants in the income note, as in previous years, together with related explanation of its usage in the Trustees Annual Report. Read more in our blog.
Academy Trust Handbook 2023 – What is new?
The Academy Trust Handbook 2023 applies with effect from 1 September 2023. Read more in our latest blog of the key changes.
Tax advice for Senior School leavers – ASCL partnership
We are proud to partner with the Association of School and College Leaders. The Association of School and College Leaders (ASCL) is the leading professional association and trade union for all school and college leaders. ASCL support and represent over 19,000 school and college leaders of primary, secondary and post-16 education from across the UK. www.ascl.org.uk
At BHP we have a dedicated team of tax professionals advising 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 elaine.skelton@bhp.co.uk
Testimonials
“BHP are a fantastic firm to work with for the completion of our annual audit and regularity report. Their experience of working with some of the biggest and most successful academy trusts in the county is testament to their brand and the quality of their staff. They are very professional in conduct, whilst exuding an extremely relational approach to how they challenge and support clients to achieve best financial practice and control. I would highly recommend BHP”
Mark Hughes, One in a million Free School
“Our Trust has had the pleasure of engaging with BHP for a number of years, during which time they have provided us with invaluable support for a range of financial tasks, including external audits, company accounts, and other reporting requirements.
Throughout our dealings with BHP, we have found them to be an exceptional partner, providing our Finance Team with rigorous challenges and advice that have enabled us to improve our practices and procedures. Their approach to external audits is facilitated by an online software package that has proven to be an efficient and effective tool, allowing us to manage these tasks alongside our day-to-day work with ease.
In addition, BHP’s team of experts is always on hand to provide us with guidance and support whenever we require it, and we have developed a strong relationship with them over time. The team’s sound knowledge and expertise in the field of multi-academy trusts (MATs) have been instrumental in our success.”
Ann Abel, Inspire Learning Trust
