Guidance

Related party transactions: information for academy trusts

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

From:
Education and Skills Funding Agency
Published
22 March 2019
Last updated
28 JuneAugust 2024 — See all updates

Applies to England

Documents

DeclareChecklist: orthings seekto approvalconsider forwhen relatedtransacting partywith transactions:a summaryrelated guidance party

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DeclareSummary guidance: report or seek approval for related party transactions: using the online formtransactions

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RelatedGuidance partyfor transactions:academy glossarytrusts ofwith termsa religious authority: report or seek approval for related party transactions

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DeclareGuidance orfor seeka approvalstate forfunded relatedschool partyor transactions:college guidance(including foracademies) academysupplier: trustsreport withor aseek religiousapproval authorityfor related party transactions

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DeclareGuidance or seek approval for related party transactions: guidance for a private school, college or university suppliersupplier: report or seek approval for related party transactions

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DeclareUsing the online form: report or seek approval for related party transactions: guidance for a state funded school or college (including academies) supplier transactions

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Checklist: preparerelated evidenceparty neededtransactions to- seekpreparing approvalevidence for aESFA related party transactionapproval

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Academy trust model statement of assurance

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Related party transactions: glossary of terms

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Details

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

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

You can watch the ESFA’sESFA’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 a DfE Sign-in account to use the form. Register for a DfE Sign-in account if you do not have one already.

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

Updates to this page

Published 22 March 2019
Last updated 28 JuneAugust 2024 + show all updates

  1. Added 'Checklist - things to consider when transacting with a related party'. Updated all other documents to reflect the Academy trust handbook.

  2. Updated link to 'Submit your related party transaction'.

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

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

  5. 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.

  6. 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.

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

  8. 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.

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

  10. First published.

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