Most independent training providers (ITPs) will have to submit their annual accounts to the government within five months of their year-end, beginning in 2026, a new financial handbook has outlined.
The earlier submission deadline will be phased in over the next three financial years and has been rolled out to allow the Education and Skills Funding Agency (ESFA) to identify “financial risks” and make better funding allocations in the future.
The rule is part of a new financial “bible” handbook unveiled today. It is part of the ESFA’s pledge to provide certainty to the sector, which chief executive David Withey promised to the sector in 2022 shortly after assuming the post.
The change will bring ITPs into line with the five-month deadline for colleges and HE institutions to ESFA and the Office for Students respectively.
