From Public Finance:
According to accounting firm UHY Hacker Young (who released this benchmarking report today - although I'm not sure if the report mentions this issue - I couldn't see it!) a waiver on paying National Insurance contributions has been cancelled and this could add costs equivalent to three extra members of staff (about £100k) to secondary academies and two (£50k) to primaries.
UHY Hacker Young's head of academies Allan Hickie told Public Finance: ‘These changes are going to have a massive impact on academies’ budgets, creating a big black hole in their finances. Some tough decisions are going to have to be made, and soon, so that the necessary plans can be made ahead of time.
‘Unless extra funds are provided from central government to cover the shortfall, which seems unlikely at this stage, substantial efficiency savings are going to have to be identified and built into academies’ three-year financial plans now.’
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