Share on LinkedInShare on LinkedIn

ARTICLE · 20 OCTOBER 2021

Updated Guidance On Special Severance Payments For Academy Trusts

Wrigleys Solicitors LLP
Wrigleys Solicitors LLP
Contributor
Wrigleys Solicitors LLP

Wrigleys Solicitors LLP

As a leading specialist practice outside of London, Wrigleys has embraced the modern era while...

View firm profile
Explore more from Wrigleys Solicitors LLP

The Education & Skills Funding Agency (ESFA) has updated the rules for academy trusts considering making a special severance payment to a member of staff.

United KingdomConsumer Protection

Additional requirements for academy trusts considering agreed exits for staff.

The Education & Skills Funding Agency (ESFA) has updated the rules for academy trusts considering making a special severance payment to a member of staff. These rules now reflect the Public Sector Exit Payments Guidance on Special Severance Payments published in June this year and the new Academy Trust Handbook which replaced the Academies Financial Handbook from 1 September 2021.

Further information on the updated Academy Trust Handbook can be found in our previous article (available on our website): Academy Trust Handbook 2021 - what's new?.

The new rules on ESFA / HM Treasury approval

In addition to the normal considerations for academy trusts making severance payments (set out below), trusts are now required to obtain prior approval from the ESFA where the exit package as a whole is £100,000 gross or more and includes a special severance payment; and/or any case where the

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

See more popular content from