News & Blog

The latest press releases and opinion from Bishop Fleming

Charities can cash in on the new one pound coin

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The new twelve-sided one pound coin is now in circulation, offering a one-off opportunity for charities (and academies) to cash in on the change. From 15 Oct 2017, the old round one pound coin will…

Taxation article – Community enterprises

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Jon Sparkes, a tax director with Bishop Fleming and with nearly 20 years' experience in advising charities and businesses on direct tax matters, has written an article on the tax issues of community enterprises and mutual…

School Condition Allocations

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For the larger MATs that qualify for the School Condition Allocations (over 3,000 pupils and at least 5 academies) funding is provided in line with the financial year to March. At the end of each…

Budget squeeze

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Academy information sheet Shortages In the absence of significant additional funding from the government, academies are being forced to manage tighter and tighter budgets, this coupled with significant changes to the national funding formula means…

Academies and schools: identity verification form for the chair of trustees

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Every new chair of trustees must now complete an Identity Verification form in accordance with Department for Education (DfE) requirements. This is in addition to the Disclosure and Barring Service (DBS) which is still required.…

Academies and VAT groups

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Many academies have a choice to make about whether to register for VAT or to claim their VAT refunds from HMRC through the VAT 126 process, although any academies which make taxable supplies over the…

Academies and Investments

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Schools week completed an investigation (link) and found several of the largest Academy Trusts had invested surplus cash in various investment funds which generated a significantly better investment return, than if they had been left…

Capital funding for schools

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The DFE have recently announced that there will a £2.4 billion funding boost for England’s schools – see the release here. This is good news for the sector, but it is worth noting that this…

New payroll chaos for academy schools

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Academy schools face significant extra costs from April as a result of new tax rules, warn Top 40 accountants and academy specialists, Bishop Fleming. From 6 April 2017 academies will have to judge whether any…

Developing your Multi Academy Trusts

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If you are looking at establishing or growing and developing your Multi Academy Trust, the EFA have a guide with good practice tips to help you. This guidance gives advice on factors that the Regional…