As with all businesses and organisations there are several important dates and deadlines throughout the year for academies. In order to meet deadlines, it’s a good idea to create a timetable of important dates, along with the activities required to ensure that all necessary documentation and returns are prepared and delivered in a timely manner.
Here are some of the most important dates in the academy year:
If you’re setting up a new academy or converting to academy status, you have a longer period than existing academies to file your accounts. The actual date your accounts are due to be filed depends on the date of incorporation of the charitable company. Newly registered academy trusts have up to 18 months to prepare and file their first set of accounts at Companies House.
All academies open before 31 March 2013 that did not need to file accounts to 31August 2012 will need to prepare a 2012/13 Annul Accounts Return to 31 March 2013 by 28 June 2013.
For existing academies, who have traded throughout a normal year, the dates for filing their accounts and returns are as follows:
- The 31st December following the 31st August year end for the Department for Education.
- 31st May following the August year end for filing at Companies House.
- If the academy is required to make a Corporation Tax Return, this needs to be made by 31st August in the year following the year end.
While there are several other important dates in the academy year, these are some of the most significant accounting dates and it is essential to have the correct procedures in place to make sure that the deadlines are met.
If you’d welcome some help to plan and manage your accounting obligations, why not get in touch? We’re here to guide you on your journey.