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Category Archives: Governance & Compliance

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Governance & Compliance 72: VAT Temporary Reduced Rate Increase to 12.5% From 01/10/2021

From 1st October 2021, VAT chargeable on supplies of holiday accommodation and hospitality /catering (i.e. the sale of food and non-alcoholic beverages for consumption on the premises) will be temporarily changed to 12.5%. This rate will apply for 6 months, …

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Governance and Compliance 68: School Budget Plans – Deadline 1st May 2021

It is a requirement of the Scheme for Financing Schools that all maintained school lock and publish their budget plan on or before the 1st May within Access Budgeting. If you are unable to make this deadline, please email …

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Governance & Compliance 71: SFVS 2020/21 – Submission deadline change due to Covid-19 pandemic

For the financial year 2020 to 2021, schools should submit their SFVS to their local authority no later than 28 May 2021.

Local authorities should submit their assurance statement to the DfE within 6 weeks, no later than 9 July …

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Governance & Compliance 70: (SFVS 2020/21) Schools Financial Benchmarking data 2019/20 now available

The Schools Financial Benchmarking data for 2019/20 is now available on the GOV.UK website via the following link: Schools Financial Benchmarking – GOV.UK (schools-financial-benchmarking.service.gov.uk)

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Governance & Compliance 69: SFVS Self-Assessment 2020/21

Schools Financial Value Standard 2020/21

Based on currently available information, the maintained schools are still expected to submit their 2020/21 Schools Financial Value Standard to Devon Audit Partnership, on behalf of Devon County Council, no later than 28th May 2021

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General 151: Be Aware: Primary Schools targeted for false High Court Writ payments

Devon Audit Partnership has requested that we share the following message from Cifas with schools:

Cifas has received intelligence that primary schools may be targeted by threat actors claiming there was a High Court Writ against the head teacher for …

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Governance & Compliance 68: 20/21 Autumn FRS Reports Deadline – 18th Dec 2020

The 2020/21 Autumn FRS reports must be received from all maintained schools on or before the 18th December. Please ensure these are submitted via Anycomms in the ‘Finance Information’ community. If you have any queries, please contact the School Finance

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Governance & Compliance 67: Item code 9165 – Coronavirus catch up premium grant CFR Treatment

Item code 9165 – Coronavirus catch up premium grant

Please be aware that the item code above should be mapped to CFR category I18 during the 2020/21 financial year.

Unfortunately, It is currently not possible for schools to map this …

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Governance and Compliance 67: FRS Reporting

As previously mentioned at the Babcock Bursar Briefing back in February this year, at this point in time CAPITA had not yet updated FMS to allow schools to map I08a and I08b CFR categories to the various ledger codes and …

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Governance & Compliance 66: Contractor Tax Status – Regulatory Change from 6th April 2020

FROM 6th APRIL 2020, THE REGULATIONS CHANGE AND WE ARE OBLIGED BY LAW TO ADVISE CONTRACTORS OF THEIR TAX STATUS BEFORE THE WORK STARTS

Please see further guidance in the Employment Status Portal SharePoint site here: Employment Status Portal Link

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