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FRS

2016/2017 Academies Account Direction

The ESFA has published its Academies Accounts Direction for 2016/17. Although the changes aren’t as significant as last year, there are a number of things to consider. As well as introducing new disclosure requirements, including academy transfers and the apprenticeship levy, and providing guidance on accounting for premises occupied by church academy trusts, the ESFA has taken the opportunity to re-affirm/clarify existing financial administrative and legal requirements.

2016/2017 Academies Account Direction

The ESFA has published its Academies Accounts Direction for 2016/17. Although the changes aren’t as significant as last year, there are a number of things to consider. As well as introducing new disclosure requirements, including academy transfers and the apprenticeship levy, and providing guidance on accounting for premises occupied by church academy trusts, the ESFA has taken the opportunity to re-affirm/clarify existing financial administrative and legal requirements.

Are you affected by changes to the VAT flat rate scheme (FRS)?

HMRC is to introduce an additional test that will determine the flat rate percentage used by traders. It would seem that HMRC presently considers the benefits obtained by certain businesses to be excessive and not in accord with the intentions of Parliament.

Are you affected by changes to the VAT flat rate scheme (FRS)?

HMRC is to introduce an additional test that will determine the flat rate percentage used by traders. It would seem that HMRC presently considers the benefits obtained by certain businesses to be excessive and not in accord with the intentions of Parliament.