The Government has confirmed that 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 six-hour course is essential for anyone involved with tax compliance in private schools or accountants providing services or advice to them. It will guide you through everything you need to know about the VAT system, ahead of January 2025 and will help you to prepare your organisation for these important changes. Crucially, it will explain how to take advantage of the opportunities to recover VAT for the first time on expenditure on taxable supplies and capital projects.
