Private schools, times a changing?

[Harry Flashman]

HMRC are onto this, apparently.

[Louis Balfour]

essayer said:

My son’s school is offering early invoicing to beat VAT. £25k up front. Ouch!

Is there a discount other than the VAT, which may end up having to be paid anyway.

[TUS373]

Harry Flashman said:

HMRC are onto this, apparently.

How can they be though? It's not been introduced yet. Curious.

[Louis Balfour]

Harry Flashman said:

HMRC are onto this, apparently.

They aren’t.

They aren’t onto most of what they are supposed to be onto, much less something that does not yet exist.

[soxboy]

Louis Balfour said:

Harry Flashman said:

HMRC are onto this, apparently.

They aren’t.

They aren’t onto most of what they are supposed to be onto, much less something that does not yet exist.

A meeting is being arranged to sort out when to have a meeting about setting up a steering group to discuss this in more detail with the relevant stakeholders before a consultation paper will be published.

[Hereward]

We pre-paid for our child's final year today, with the understanding that the date of the deposit creates the tax point. Got a 4% discount too, which almost offsets the loss of interest from a cash account.

Of course Labour could introduce anti-avoidance measures to recapture this payment but at least I tried, seemed like a free option.

[ntiz]

Just my 2 pence but on the SEN front I would have thought if a child is low needs enough that they are attending a public school with expectation of participating to a normal level. They won’t be in a position to apply for any financial support to be spent on attending a public school.

[Raddors]

TUS373 said:

Harry Flashman said:

HMRC are onto this, apparently.

How can they be though? It's not been introduced yet. Curious.

A pre-payment for one years fees 2024-25 for a defined service is less likely to cause issues as it will be more difficult for HMRC to argue the default Vs continuous supply regime as the time, class, subjects etc are known to parent s so what they are paying for is clearly defined.

What is less certain is full fees in advance schemes that last beyond one academic year for the duration of a child's time at a school as this service can less easily be defined and HMRC will possibly go after this as/when VAT regs change.

[Louis Balfour]

soxboy said:

Louis Balfour said:

Harry Flashman said:

HMRC are onto this, apparently.

They aren’t.

They aren’t onto most of what they are supposed to be onto, much less something that does not yet exist.

A meeting is being arranged to sort out when to have a meeting about setting up a steering group to discuss this in more detail with the relevant stakeholders before a consultation paper will be published.

HMRC isn’t even thinking about it. They aren’t even thinking about thinking about it. It is an un-enacted policy from an unelected party and they have a crisis on their hands doing the work that they are currently required to do.

[M1AGM]

Hereward said:

We pre-paid for our child's final year today, with the understanding that the date of the deposit creates the tax point. Got a 4% discount too, which almost offsets the loss of interest from a cash account.

Of course Labour could introduce anti-avoidance measures to recapture this payment but at least I tried, seemed like a free option.

Thats generous. We have been offered 1% which makes it more of a gamble.

[NomduJour]

Vixpy1 said:

DonkeyApple said:

Vixpy1 said:

Failed Eton here, ended up at Stowe, as did many others.

Was everyone called Charlie at Stowe? Only ever seam to meet Charlie's.

Pretty much, most of them are either running the family estate now or in prison for Art Fraud

Maybe we should be suspicious of these Johnny-come-lately places.

[TownIdiot]

It's reported that Rachel Reeves has confirmed vat to be introduced from September 2025, not 2024.

[AyBee]

TownIdiot said:

It's reported that Rachel Reeves has confirmed vat to be introduced from September 2025, not 2024.

An element of sense in a policy that makes very little.

[zorba_the_greek]

AyBee said:

TownIdiot said:

It's reported that Rachel Reeves has confirmed vat to be introduced from September 2025, not 2024.

An element of sense in a policy that makes very little.

Let see when Labour get in how they will manage the situation. Right now they have no liability. Pressure is certainly building, especially around the way SEND's children might be treated.

[Raddors]

TownIdiot said:

It's reported that Rachel Reeves has confirmed vat to be introduced from September 2025, not 2024.

Where is this being reported please do you have a link?

[TownIdiot]

Raddors said:

Where is this being reported please do you have a link?

Something I read on the train
Reporter is Theo Usherwood and it looks like he was tweeting live during her speech to the Times CEO summit.

https://x.com/theousherwood/status/180374073059615...

[Louis Balfour]

TownIdiot said:

Raddors said:

Where is this being reported please do you have a link?

Something I read on the train
Reporter is Theo Usherwood and it looks like he was tweeting live during her speech to the Times CEO summit.

https://x.com/theousherwood/status/180374073059615...

Probably accurate and I won’t be surprised for there to be further delays and exceptions.

[Raddors]

TownIdiot said:

Something I read on the train
Reporter is Theo Usherwood and it looks like he was tweeting live during her speech to the Times CEO summit.

https://x.com/theousherwood/status/180374073059615...

Thank you

[DonkeyApple]

TownIdiot said:

It's reported that Rachel Reeves has confirmed vat to be introduced from September 2025, not 2024.

I have a strange feeling that by September 2025 there'll be no one actually working any more at any of the institutions required to collect and enforce.

[Tom8]

zorba_the_greek said:

AyBee said:

TownIdiot said:

It's reported that Rachel Reeves has confirmed vat to be introduced from September 2025, not 2024.

An element of sense in a policy that makes very little.

Let see when Labour get in how they will manage the situation. Right now they have no liability. Pressure is certainly building, especially around the way SEND's children might be treated.

Hopefully it will be another Starmer idea that they try to brush under the carpet as it is retarded. This has the signs of that.