Guidance

Related party transactions: information for academy trusts

Guidance for academy trusts declaring or seeking approval for related party transactions (RPTs).

From:
Education and Skills Funding Agency
Published
22 March 2019
Last updated
1 September 2023 — See all updates

Applies to England

Documents

Declare or seek approval for related party transactions: summary guidance

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Declare or seek approval for related party transactions: using the online form

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Related party transactions: glossary of terms

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Declare or seek approval for related party transactions: guidance for academy trusts with a religious authority

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Declare or seek approval for related party transactions: guidance for a private school, college or university supplier

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Declare or seek approval for related party transactions: guidance for a state funded school or college (including academies) supplier

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Checklist: prepare evidence needed to seek approval for a related party transaction

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Academy trust model statement of assurance

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This file is in an OpenDocument format

Details

Academy trusts must declare all expenditure transactions or seek approval where necessary using the related party transactions online form.

The Academy Trust Handbook sets out reporting and approval requirements for academy trusts in advance of transacting with a related party.

You can watch the ESFA’s Power Hour below for more details:

Power Hour August 2023: Related Party Transactions

You can also watch the online form tutorial for more details:

RPT online form tutorial

You will need an IDAMS account to use the form. You can set up an account and approve other users by following the guidance How to register for an IDAMS account.

Academy trusts must report all related party transactions in their end of year financial statements, following guidance set out in the Academies Accounts Direction.

Published 22 March 2019
Last updated 1 September 2023 + show all updates

  1. We've updated the information for related party transactions for the new academic year.

  2. We've added a link to the next Academy Finance Professionals Power Hour on changes to the RPT process.

  3. From 1 September 2023 the reporting requirements for related party transactions (RPTs) will be changing. Please see the new version of the Academy Trust Handbook for more information.

  4. We have updated this page to add the slides used at the academies finance professional event on 17 February 2022 and also the model statement of assurance that academy trusts should use where goods or service provided by a related party exceed £2,500.

  5. We have updated this page to reflect changes to references in the Academy Trust Handbook.

  6. We've updated information in the documents: summary guidance, using the online form, glossary of terms and guidance for church schools. We've also added a checklist to support completion of the online form.

  7. Updated with a guide to using the online form for related party transactions and a link to the online form.

  8. First published.

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