News > Weekly Digest

Feedback

17th April 2019

Weekly Digest
View Archive
Share on LinkedIn
Share on Twitter

Treasury Management Conference - 24th June Rachel McLone

BUFDG's Treasury Management Conference takes place on Monday 24th June at One America Square in London.  The event will be a great opportunity for our members to meet colleagues across Higher Education together with external experts. The day will consist of plenary sessions and 20 breakout sessions with a huge variety of topics to choose from ensuring each delegate gets the most from the day. Plenary sessions include:

  • How has the British economy faired under the weight of Brexit uncertainty? Mark Berrisford-Smith, Head of Economics for HBSC’s commercial banking in the UK.  
  • The changing world of treasury. Caroline Stockmann, Chief Executive of the Association of Corporate Treasurers (ACT) shares the latest research on treasury trends including how treasury is responding to our changing economy.  
  • Strategies for resistance and change – from world class mountaineer Andy Cave.  

The huge variety of breakouts means there will be something to suit everyone, for our new members, our experts and all those in between. You can keep up to date with the details via the conference microsite. These include:

  • Oversight of the public sector regulatory environment
  • The payments revolution
  • Investment policies: What you should consider when drafting your policy
  • Aligning profit with principles: An introduction to sustainable investing
  • FX considerations for universities – helping universities devise treasury policies that aid in navigating the turbulent foreign exchange markets
  • Treasury and short term investing in a challenging environment.
  • Online payments v invoicing
  • Financial covenants: a blessing or a curse?”  
  • The Treasurer's Trilemma - Core principles to guide treasury management today.
  • Optimising liquidity and yield
  • The changing face of cash management 
  • Counterparty risk and the HE treasurer

Bookings are now open. The conference costs £250 plus VAT for BUFDG members and £500 plus VAT for non-members. Please contact Rachel for any queries. 

Funding increases to teachers’ pensions employer contributions - response to the consultation Caroline Jones

The response to the consultation on funding increases to teachers’ pensions employer contributions has been published.

On 15 January 2019, the Department for Education launched a consultation on the proposal to support certain education institutions with the increase in employer contributions to the Teachers’ Pension Scheme (TPS) in Financial Year (FY) 2019-20. It has now published its response to the consultation and has considered; concerns about existing budgetary pressures caused by factors such as demographic changes, institutions that may currently be facing financial sustainability challenges and the tuition fee cap.

The Department has announced that it will not fund Universities (and other organisations providing HE) obliged to offer TPS at this stage or take any mitigating actions against the risks identified in the consultation.

HMRC MTD Software Choices Search Amanda Darley

HMRC's software choices search is now available to help you narrow down the most appropriate Making Tax Digital software for your needs. It allows you to narrow down the list of approved software providers by some of features available (view submitted returns, check what VAT you owe, and view VAT payment history), whether you want the software for digital record keeping or just bridging, and whether there are any accessibility issues (e.g. visual, hearing etc.), to assist your MTD project.

In December we published a comparison table for the main software offerings (at that time) which would hold your digital records etc. which provides more detail on these tools (though doesn't include any new softeware which may have been added/approved since December), and in October we reviewed the list of all HMRC approved software products to identify those likely to be suitable for unviersities, including both digital record tools and bridging products, and those that weren't, inlcuding full accounting systems, those designed for accounting firms, and those for specific industries (although this has not been updated since October). You may find it useful to view these alongside using HMRC's MTD software search.

PHES is recruiting to two posts Matt Sisson

PHES, the parent company of BUFDG, is recruiting for two roles. First up is a Digital Support Officer, to work between 0.75FTE and full time. The successful candidate will work across all four associations, managing IT systems and providing technical and system support to team members. The role will be based in Loughborough and include some UK travel and occasional overnight stays.

Click to download the job description, and the application form. To apply, complete the application form and email it with a covering letter outlining your suitability for the role to recruitment@phes.ac.uk. The closing date is Monday 29th April at 11pm, and interviews are in Loughborough on Monday 13th May.

Secondly, following Emma’s move to LUPC, we’re looking for a procurement professional who is committed to collaborative working for the benefit of universities, their staff, students and commercial clients. The role of HEPA Procurement Specialist will suit applicants who are prepared to understand the diverse HEPA membership, the pressures on the higher education sector and have ideas to help members be excellent business partners. Find out more about this role and how to apply.

Clarification over Transitional Simplified Procedures for customs, post-Brexit Amanda Darley

A few weeks ago we posted an article regarding post-Brexit changes in trading with the EU, including the introduction of Transitional Simplified Procedures (TSP) which would allow goods to be transported from the EU into the UK without having to make a full customs declaration at the border, and postponing payment of any import duties.

There was then some confusion, which some of you will be aware of, around whether it was possible to use TSP if an agent was importing goods on your behalf, or whether you could only use TSP if the university dealt with the import itself, including some seemingly contradictory messages in communications from HMRC. 

We contacted HMRC to obtain clarity on this and have now received confirmation from HMRC that TSP can be used when importing via an agent, with the following response: 'Customers who want to register for TSP must make the application themselves - you can’t ask someone else (such as an agent) to do it for you.  But having registered you can then ask a customs agent to act on your behalf.  To use TSP, you will need a UK EORI number.  It is simple and free to register,  and only takes 10 minutes. Customers can do this at www.gov.uk/hmrc/get-eori'. (Many universities will already have EORI numbers through trading with non-EU countries.)

Revised offer on VAT & Property Guide Amanda Darley

We have recently updated the details of Martin Scammell's discount for BUFDG members for his online service ‘VAT on Construction, Land and Property’, widely recognised as the definitive guide to the subject. This manual explores all aspects of property and construction, with summaries of case law, extracts from guidance, and detailed commentary. The BUFDG member discount is still a massive 50%, making the cost of the service just £600 (plus VAT) per year, but the 'one time only' offer from 2016 to provide a free place on his annual VAT on Land & Property update (which actually lasted for three years in the end, which is a pretty good one-time only offer!) will no longer be available. The 50% discount is still an amazing deal on such a useful and comprehensive resource, so if you'd like more details or have some questions about how you might make use of it, have a look at offer details here.

Successes, risks, opportunities... Matt Sisson

We're pleased to be able to point you towards our 2019 Annual Report. Each year we try and embed more of the principles of Integrated Reporting, so we hope that this report gives you an insight into how BUFDG thinks and works, as well as the more ‘traditional’ annual report of what it has achieved over the last year, and its financial situation and projections. We hope the report shows that the organisation delivers value in the short-term, as well as being a sustainable and worthwhile long-term investment by members.

If you have any questions about the report or anything you read in it, drop Matt an email.

Conference for Insurance Managers Matt Sisson

This year's National Conference for Insurance Managers in HE takes place at Weetwood Hall, Leeds, on the 23-24th May 2019. Run by the Northern Universities Insurance Group (NIUG), and subtitled Risky Business, it will be essential for HE staff who work in Insurance & Risk, Health & Safety and University Governance. It will help attendees stay abreast of current risks and develop expert knowledge in a fast changing sector. The conference also provides delegates with the opportunity to meet staff from other universities and colleges who are faced with the same challenges. Click for more information and to book.

Job of the week Jemma Ladkin

This week’s job of the week is for a Finance Officer to join the team at Queen Mary, University of London.

“Essential requirements for this post include an Honours graduate degree in a relevant subject or considerable equivalent experience. The postholder must have experience of financial management in a large organisation and excellent organisational skills. Previous experience of managing research/clinical trial budgets would be an advantage. A demonstrated ability to work in a high pressurised, fast paced environment and working to tight deadlines are also essential”.

The closing date for this vacancy is 25th April 2019.

There are lots of other vacancies listed as usual on the BUFDG jobs page.

 

This site uses cookies and other tracking technologies to assist with navigation and your ability to provide feedback, analyse your use of the site and services and assist with our member communication efforts. Privacy Policy. Accept cookies Cookie Settings