Monthly Archives: December 2014

Services Offered by Fis-edsolutions Ltd

We have a regional team dedicated to supporting and advising schools in the South East and Central London.

We have experience across complicated areas such as VAT, Year End accounting and provide clarity across new regulations and directives.

We are well established and encourage you to view our testimonies

Our services include:

Advice and Project Management across Academy Conversion

Sponsorship application submissions

Audit and Assurance

Responsible officer training

Budget monitoring and management

Medium term financial planning

Year-end accounting

Fis-edsolutions ltd blogs reports More than half a million businesses have signed up to an online tax account – Your Tax Account – HM Revenue and Customs (HMRC) announced day.

Launched in May 2014, Your Tax Account will, over time, enable small businesses to access everything they need to manage their tax affairs in a single, secure, online space. HMRC has worked with business customers to ensure it reflects their needs and is user-friendly.

The core of the current service is a personalised homepage from which businesses can access:

  • links to the key transactions they need to complete (for Self Assessment, Corporation Tax, Pay As You Earn for employers and VAT)
  • an overview of their key tax records
  • a summary of their current liabilities
  • direct links to information and guidance, plus interactive tools
  • links to payment information and how to pay.

More services will be added as the product develops.

David Gauke, Financial Secretary to the Treasury, said:

HMRC is becoming an increasingly digital business. My ambition is forHMRC to offer all taxpayers – individuals, businesses and agents – their own online tax account.

Your Tax Account gives businesses easier, quicker and simpler access to the information and services they need in one place, and is already proving popular with them.

Fis-edsolutions ltd blogs -Review of related party transactions in academy trusts

The Education Funding Agency has published a report on related party transactions, based on its review of all such transactions disclosed in academy trusts’ 2012/13 financial statements. In the report you can find case studies and further information to help your trust comply with the requirements.

Fis-edsolutions ltd blogs Update to ESG supplementary guidance note

The EFA have published supplementary guidance on the education services grant (ESG) for the 2015 to 2016 academic year.

The updated note includes worked examples of the tapered protection for mainstream, special and alternative provision academies.

Fis-edsolutions ltd blogs –variances to revenue funding allocations for universal infant free school meals (UIFSM)

In response to feedback from schools, the EFA have refined the final universal infant free school meals (UIFSM) revenue allocation to take account of varying patterns of reception class intakes.

For reception, the final allocation will be calculated by taking an average of the October 2014 and January 2015 censuses, or just the January 2015 census – whichever provides schools with the greater allocation.

The approach to calculating the final allocation for year 1 and year 2 has not changed: it will be calculated by taking an average of the October 2014 and January 2015 censuses.

Fis-edsolutions ltd blogs Pupil premium allocations for 2015 to 2016

Pupil premium illustrative allocations for the 2015 to 2016 financial year will be made available in January 2015.

Per pupil amounts for pupils in years 7 to 11, children who are looked after for one day or more or adopted from care and service children will continue to be funded at the same levels as the current financial year. The per pupil amount for pupils in reception to year 6 will increase to £1,320.

Fis-edsolutions ltd Blogs Information: Changes to revenue funding allocations for Universal Infant Free School Meals (UIFSM)

The final universal infant free school meals (UIFSM) revenue allocation to take account of varying patterns of reception class intakes.

For reception, the final allocation will be calculated by taking an average of the October 2014 and January 2015 censuses, or just the January 2015 census – whichever provides schools with the greater allocation.

The approach to calculating the final allocation for year 1 and year 2 has not changed: it will be calculated by taking an average of the October 2014 and January 2015 censuses.

Full details are included in the conditions of grant on GOV.UK.​

Fis-edsolutions blogs Information: schools revenue funding settlement 2015 to 2016

The Efa  have announced information about the dedicated schools grant (DSG) and local authority (LA) allocations for 2015 to 2016 as at December 2014. Includes funding for schools, for children and young people with high needs, and for children in their early years.

  • Dedicated schools grant 2015 to 2016: pupil number tool can be used to view the LA’s final pupil numbers from the January and October 2014 (schools block) and January 2014 (early years block) pupil data collections for the 2015 to 2016 DSG. This tool should be used by LAs only, and not by schools, as local formulae will be used to determine an individual school’s allocation

Fis-edsolutions blogs Information: pupil premium allocations for 2015 to 2016

Pupil premium illustrative allocations for the 2015 to 2016 financial year will be made available in January 2015.

Per pupil amounts for pupils in years 7 to 11, children who are looked after for one day or more or adopted from care and service children will continue to be funded at the same levels as the current financial year. The per pupil amount for pupils in reception to year 6 will increase to £1,320.

Fis-edsolutions ltd blogs Information: academy trusts’ August 2014 accounts return template

The Education Funding Agency (EFA) requires academy trusts to submit an August 2014 accounts return, using the Excel template on this page, by 31 January 2015.

Academy trusts need to complete this return if they are preparing financial statements as at 31 August 2014 and have academies open at 31 August 2014. The guide published on this page explains how to complete the return. We updated the guide in November 2014 to explain how to submit the return usingEFA’s Information Exchange.

Trusts that have been incorporated but are not preparing financial statements to 31 August 2014 or do not have any open academies should not complete this return. In March 2015 EFA will issue an alternative return for those trusts to complete.