Academies – Are you ready for the TPS Audit?

Another tax year is almost over and that means another TPS audit is looming into view for Academies. With the changes to the scheme this year, it’s an event many a school business manager may be dreading.

Here are some key questions to ask as you prepare for the audit:

  • Have you agreed a date with your audit team?
  • Do you have payroll records for the year ended 31 March 2015?
  • Do you have details of pay grades for all members of the scheme for the whole year?
  • Do you know what category of member each employee is?
  • Do you have copies of the monthly information submitted to the EFA?
  • Have you paid all amounts due to the TPS?

At Tait Walker we’ve been agreeing dates for the TPS audit with our clients and we’ll also be providing a checklist to help ensure you have all the information you need to hand, making the process as smooth as possible.

Don’t forget unaudited returns need to be submitted by 31st May and the audited return must be submitted by 30th September.

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