12.b. ACCESS AND PARTICIPATION PLAN EXPENDITURE
Year ended 31 July 2021
University Access investment Financial support provided to students
Disability support for students (excluding expenditure included in the two categories above) Research and evaluation of access and participation activities
£’000 819
1,639 1,718 246
4,422
Year ended 31 July 2020
£’000 735 639
1,717 272
3,363
The total of the approved expenditure in the University’s Access and Participation Plan for the year ended 31 July 2021 was £1,762k (2020: £6,008k). The reason for the reduction in the approved expenditure Plan is because investments in student success and progression are no longer being included in the Plan following changes in requirements from the Office for Students (OfS) 2021.38 Regulatory notice 1 – Access and participation plan guidance/Financial monitoring/Paragraph 66, 9 September 2021.
The categories included in the Plan submitted to OfS do not fully correlate with the expenditure recorded in note 12b above, due to expenditure category Disability support for students being excluded from the Plan but included in the reporting as required under the OfS Regulatory Advice 9: Accounts direction: Clarification on the requirements of the accounts direction.
Excluding Disability support for students, the expenditure recorded in note 12b is approximately £900k above the University’s planned spend of £1,762k for the year ended 31 July 2021 due to additional financial support provided to our students during the COVID-19 pandemic.
Details of the approved plan can be found at:
https://www.officeforstudents.org.uk/advice-and-guidance/the-register/search-for-access-and-participation-plans/#/ AccessPlans/accessplans/10004351
https://www.officeforstudents.org.uk/data-and-analysis/access-and-participation-plan-data/data-from-access-and- participation-plans/
13. TAXATION
Year ended 31 July 2021
£’000
Recognised in the consolidated statement of comprehensive income Foreign taxes
Total tax expense
111 111
The University is an exempt charity within the meaning of Part 3 of the Charities Act 2011, and, as such, is a charity within the meaning of Section 506 (1) of the Income and Corporation Taxes Act 1988. The University is recognised as a charity by HM Revenue & Customs (Ref. XN92247). It is therefore a charity within the meaning of Paragraph 1 of Schedule 6 to the Finance Act 2010. Accordingly, the University is potentially exempt from UK taxation in respect of income or capital gains received within categories covered by Section 287 Corporation Tax Act 2009 (CTA 2009) and sections 471, and 478-488 of CTA 2010 (formerly enacted in section 505 of the Income and Corporation Taxes Act 1988 (ICTA)), or section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied to exclusively charitable purposes. The University receives no similar exemption in respect of Value Added Tax (VAT) and any tax incurred is either expensed or capitalised according to the nature of the underlying expenditure.
The foreign tax expenses arise from the activities of certain overseas trading subsidiary companies within their local regions during the year.
123
Year ended 31 July 2020
£’000
74 74
Financial Statements 2020/21
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