Welcome to the autumn End of Term report - our first as RSM. We along with all of our network firms across the globe adopted a new name, uniform identity and brand on 26 October. It seems that there are few, if any, organisations, commercial, educational or charitable, that are not affected in some way by the global economy.
For schools in the independent sector, this can be attracting pupils from overseas, competition from overseas schools with a lower cost base for boarders or, increasingly, schools dipping a toe into overseas waters either by setting up franchise operations or partnership type arrangements. Many such ventures have already proved successful and lucrative for some schools and others are attracted by the potential benefits. Meanwhile there is much to be thinking about closer to home with ever more regulatory change for all schools and press comment directed at the independent sector.
In this edition:
- we look at the latest guidance on safeguarding as recent ISI inspections reveal several schools continue to fail in this crucial area;
- in the last month guidance from the Charity Commission concerning public benefit indicates that this issue is here to stay and schools need to be much smarter about their approach to demonstrating Public Benefit but probably more importantly publicising it;
- we discuss some major changes affecting employment tax from April 2016;
- we are seeing many schools struggle financially– we take a look at some of the basics of cash flow management that are often overlooked; and
- we consider the costs of rebuilding your school – are you adequately insured?
Download the autumn edition of our independent schools report.