News

16

Mar

What the budget announcements earlier this month mean for schools?

 


 

 

 

There were several funding pots and some other general measures announced:

Funding pots:

  • £90m Arts Premium funding from September 2021 for secondary schools. This will provide £25,000 on average per school to use towards arts programmes and extra-curricular activities.
  • £29m a year by 2023-24 for primary schools to boost PE teaching and use of sports facilities.
  • £7m additional funds to support 11 maths schools across every region in the UK.

Other measures:

  • Increase in the basic National Insurance threshold for employees to £9,500 from April 2020, which will mean some more take-home pay for staff.
  • Increase in the employment allowance from £3,000 to £4,000 per annum from April 2020, although this is only available where the organisations total National Insurance bill is less than £100,000.
  • From 1 December 2020, a zero rate of VAT will apply to e-publications (like books, magazines, academic journals etc).

There were also some specific measures introduced that will help support organisations, including schools, with the impact of the Coronavirus, and these continue to develop daily basis at present.

Unfortunately, there wasn’t any additional news around the certainty of the distribution of funding for 2021/22 and 2022/23 year, which continues to make it hard for schools to produce meaningful medium-term financial plans.

If you need any help with any of these issues, then then just give the not-for-profit team at Cooper Parry a call!

cooperparry.com/not-for-profit/

Back to News