Looking at converting

If your school is considering whether or not to convert to academy status, we can discuss the choices with you so you are fully aware of all the funding, financial and governance implications of converting.

If your school has already made the decision to convert to academy status, we can guide you through the many questions and decisions to be made towards achieving greater autonomy and financial control as an academy. We do this by providing a comprehensive conversion support package, which will help and guide you on a range of areas as follows:

  • Have you considered the appropriate governance structure for your academy, including relevant sub-committees and their terms of reference?
  • Have you reviewed your finance policies and procedures, including delegated authority levels, to ensure these are appropriate and fit for purpose?
  • Have you reviewed your non-educational trading income to consider whether you could liable to corporation tax or whether you should establish a trading subsidiary?
  • Have you reviewed your income sources and considered whether you should register for VAT or adopt the section 33B VAT reclaim option?
  • Have you considered your payroll function and who you will outsource this to?
  • Have you reviewed your banking arrangements and chosen a banking provider?
  • Have you considered your accounting software and whether you need to install new academy sector specific software, how to set this up correctly and what training and ongoing support requirements you will need?
  • Have you established a month-end accounting routine, including what format your month end management accounts information should take?
  • Have you prepared a cash flow forecast for the first few months post conversion, especially as there may be a time delay in receiving any cash surplus payments from the Local Authority?

Our dedicated education team has assisted many schools through the conversion process and can provide face-to-face, email and telephone support to guide you through these many questions, ensuring you make informed decisions that are right for your school.

Making the change

Looking at converting
Change to Whitley Stimpson

Step 1

Confirm to your accountant that you wish to move to Whitley Stimpson

Step 2

Supply Whitley Stimpson with your existing accountant’s details

Step 3

Relax. We’ll handle the rest.
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