From 1st January 2025, private school fees for education services and boarding will be subject to 20% VAT. The rate applies to any fees paid after 29th July 2024 pertaining to the first term in 2025, forestalling any attempts to avoid the tax by paying fees early.
Many private schools won't have registered for VAT before and the administrative burden and processes will be entirely new. The changes present significant challenges for all private schools and associated services and there is very little time to prepare.
This practical and comprehensive course is essential for anyone involved in finance or administration in private schools or accountants providing services or advice to them.
It will fully explain how the VAT system works - from the basics right through to the more complex subjects of reclaiming input tax and partial exemption. It will explain how registering for VAT will impact your school and crucially help you take advantage of the opportunity to recover VAT for the first time on expenditure on taxable supplies and capital projects.
The knowledge gained on this course will enable you and your school to fully prepare for these significant changes.
