For 2022
There will only be a single budget forecast return (BFR) required to be completed which covers the periods:
- 1 Sept 2020 to March 2021 (7 months) and April 2021 to August 2021 (5 months) – so requires to reconciled to last year’s accounts
- 1 Sept 2021 to March 2022 and April 2022 to August 2022
- 1 Sept 2022 to March 2023 and April 2023 to August 2023
- Summary forecasts are also required for:
- 1 Sept 2023 to 31 August 2024
- 1 Sept 2024 to 31 August 2025
To enable Trusts to adopt a considered long-term financial strategy before, the BFR is submitted online between 1 June and 26 July. The ESFA have also provided excel workbooks for completion in advance in the format of the online return, so that any shortfalls in income or unexpected expenditure can be identified early and communicated to the Trustees and, if necessary, the ESFA on the appropriate action to take.
The next steps
If you are looking for any help and assistance with the completion of this year’s BFR, please contact Malcolm Winston or your usual UHY adviser.
