New VAT Rules for Private Schools: Key Insights and Strategic Planning Ahead of 2025

We are delighted to invite you to MHA’s private schools VAT webinar on Thursday 31 October 2024 from 12pm – 1pm.

The imposition of VAT on private school fees is potentially the most seismic shift to VAT since its introduction on 1 April 1973. Our engagement with clients in the weeks since the publication of draft legislation and guidance has highlighted a myriad of issues to address in the short time available prior to 1 January 2025. The Budget on 30 October is expected to bring more detail around key issues including pre-registration input tax and when to register for VAT.

In our webinar, we will analyse the draft VAT legislation, HMRC guidance, and education acts to provide clarity on the following key points:

• What is the definition of a private school for this VAT change?
• How the new rules apply to tuition and boarding fees, and other common income streams for private schools.
• Can charging VAT be a positive outcome for your school?
• The VAT which can be recovered on costs, including construction and refurbishment projects undertaken in the last 10 years.
• Is there an opportunity to register before 1 January 2025, and might that be an advantage for your school?
• The changes required to your accounting systems.
• The processes involved in completing VAT returns.

You are welcome to submit your questions in advance by emailing [email protected], or raise them during the webinar session.

We are working with private schools to help them prepare. We invite you to get the benefit of our practical, straightforward approach.