While academy schools enjoy much greater control over their budgets and the way they operate, becoming independent of a local authority also brings with it new challenges and responsibilities.
The AGS team is ideally placed to advise eligible schools in planning and implementing their transition to an academy.
Our areas of expertise include assessing their financial position, advising on improvements to financial systems and assisting them in meeting the new responsibilities that come with this status. We can also assist with:
- accounts prepared in accordance with the Companies Act, Charities’ Statement of Recommended Practice (SORP) and the relevant Academies Accounts Direction
- management accounts
- cash flow planning and budgeting
- outsourced bookkeeping and payroll
- VAT registration and reclaiming on non-business activities
- corporation tax liabilities from, for example, lettings income
- company secretarial services
- investment options for surplus funds.
Academies are able to adopt a more business-minded approach, which means it makes sense to source the most cost-effective external providers of goods and services.
At AGS, we offer an efficient, value for money solution to the accounting needs of schools, at all stages of their academies journey.
today for a free consultation
with one of our West Midlands tax advisers, and find out more about how AGS accountants can help you.