ESFA Update Academies August 2022

ESFA Update Academies August 2022

Information: summary of new items added for the 2021/22 academies accounts return

HMRC have added a document to the academies accounts return guidance page to help trusts prepare for the accounts return later this year.

As in previous years there are a few amendments to the form, mainly to cover any new reporting requirements and to improve the user experience.

In summary, the main changes to this year academies accounts return are:

– additional question asking trusts whether they have outsourced the completion of the online form

– new SOFA fields to report Recovery premium and legal fees on conversion

– land and buildings section for Single Academy Trust (SAT) prepopulated with data keyed in the tangible fixed assets tables

– new benchmarking field to report COVID-19 Government funding for MAT Central services

– updated guidance on sensitivity analysis and average future life expectancies for trusts that are part of multiple LGPS

– updated guidance on how to report employer national insurance contribution in Staff costs in counterparty section.

Please review the document for detailed information on the changes and additional information requirements.

Click to view  Academies Accounts Direction