Services

Our approach to every client is as unique as the mix of services your academy needs to meet its objectives. Tait Walker tailors a full range of accounting, taxation, and advisory services for academies across the North East.

Audit, Accounts and Compliance

Our experienced team of academy specialists are here to guide business managers and governors through the maze of accounting, regulatory and governance issues.

Our audit, accounting and compliance service includes:

• Accounts preparation in compliance with the Charities SORP, Companies Act 2006, funding agreement with the DfE and the Academy Financial Handbook
• Audits in accordance with Clarity International Standards for Auditing
• FRS17 Pension Liability journal adjustments and disclosure requirements
• Teachers’ Pension Agency Return audit
• Advice on design and implementation of internal systems and controls
• Advice on choosing appropriate accounting policies e.g. fixed asset depreciation rates

Taxation and VAT

We believe that when you choose your academy’s professional advisor they should be able to offer you both standard and specialist advice that your academy needs now and in the future.

Our dedicated and highly qualified Taxation and VAT specialists will work with you to minimise any Tax and VAT liability for the academy arising from operational activity.

Academies would normally be treated as a charity for tax purposes and benefit from available exemptions, this however would not apply to trading income. An income review would also be required in order to determine if VAT registration was applicable.

Our taxation and VAT service includes:

•  Determination of non-charitable activities
• Consideration of use of a trading subsidiary
• VAT registration, determination and planning
• Payroll Bureau Services from ad-hoc to completely outsourced payroll

Additional and on-going support

Working with schools and academy’s has led our team to appreciate that business managers and governors often need additional support, to assist in meeting objectives and regulatory demands.

Our additional and on-going support service includes:

• Responsible officer reporting support
• Establishing financial regulations, key finance policies and procedures, procurement processes
• Financial system reviews
• Governor support with regards to roles and responsibilities as a company director and charity trustee
• Assisting with financial regulatory compliance
• Assisting with Company Secretarial requirements

For further information or to speak to one of our education specialists please contact Brian Laidlaw.