Academies Services
Statutory Audit
Independent reporting accountant’s assurance report on regularity to the ESFA
Teachers Pension Scheme End of Year Certificate Audit
Academies Accounts Return
Corporation tax compliance
Budget Forecast Returns
Academies and Independent schools
academies
The opportunity for schools to convert to academy status, or launch as academies under the Free Schools programme, comes with many challenges. Amongst these, academies will need to consider their accounting, payroll, and audit procedures. Although all academies are charities, they have exempt charity status and aren’t regulated by the Charity Commission. However, they’re required to produce accounts compliant with the Charities’ Statement of Recommended Practice (SORP).
How can TC Group help?
- Training for the finance department
- Assessment and valuation of assets and liabilities to be transferred
- Calculation of the surplus or deficit on transfer and assistance with negotiations with the Local Authority
- Formulation of appropriate accounting procedures and policies which meet the Department for Education (DfE) requirements
- Selection of accounting software
- Set up of outsourced payroll services
- Advice to governors and appointed officers
TC Group understand how academies operate and the compliance requirements to the ESFA. Existing trusts have recommended TC Group to academies.
independent schools
Independent schools operate in a highly regulated environment -they’re facing challenging times with economic pressures and regulatory changes.
Here at TC Group, we provide our specialist services to Independent Schools through our charities team, experienced in advising you on the changing regulatory and reporting requirements. We make it our priority to provide you with the necessary technical support required to meet the financial challenges independent schools face.
Independent schools need advisors that look beyond compliance and take time to understand their school. We do just that, and this allows us to deliver solutions that meet your specific needs.
How can TC Group help?
TC Group has extensive experience working for schools, both on a large and a small scale. We recognise the diversity of the education sector and tailor our services accordingly.
We have excellent knowledge and experience in the Not-For-Profit sector, with clients ranging from large charities to smaller voluntary organisations. We help these clients with the challenges they face to manage the financial wellbeing of the school by advising on strategic planning and dealing with the Charities Commission.
With our help, you’ll be better equipped to manage the finances of your school and deal with any changes that come into place set by the Charities Commission Act. We’ll be there to help you make the right decisions.
Key services for Academies and Independent schools
Independent Schools Services
VAT advice Consultancy advice Gift Aid advice Corporation Tax planning Risk management Payroll HR Advisory services Property Advisory services
Audit
Whether it’s your annual statutory audit or an external audit to add credibility and governance, our skilled auditors produce rigorous and efficient audits.
Financial Performance Reporting
TC Group can help build key financial trends for schools. This includes KPI’s and Benchmarking to improve efficiency of spending.
Governor Training
Helping you to understand your financial responsibilities, regulatory requirements and strategic financial management. Financial awareness is crucial for ensuring effective school governance.
Termly Management Accounts
Providing clear financial overviews and strategic guidance to schools for informed decision making.
Payroll
We manage and process compliant payroll for academies and independent schools of all sizes. Our outsourced payroll services are tailored to fit your requirements.
VAT
TC Group can help schools navigate VAT compliance, ensuring you maximise reclaim opportunities while adhering to regulations.
