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.