The deadline for the introduction of VAT on private school fees on 1 January 2025 is fast approaching, and we are already assisting a number of independent schools with planning for this change.
The recent Budget contained some further guidance and revised draft legislation in relation to the new rules. Schools should now be applying for VAT registration and preparing for the implementation of VAT.
Our Indirect Tax team that can provide the following support:
- Advice on VAT treatment of income and recovery of VAT on costs including the partial exemption rules
- Mapping a VAT profile based on the financial budgets for the next 1-3 years
- A review of any historic capital expenditure projects to identify any potential savings on VAT costs under the Capital Goods Scheme
- A review of any fees in advance arrangements to confirm correct VAT position
- Assistance with VAT registration application and compliance support
- Training for finance teams Ongoing VAT helpline support
We are here to listen and adapt our approach to each school’s particular circumstances and requirements.
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If you would like to find out more about how we can help, complete the form below.
