Shows
Larking Gowen InsightsVAT on school fees - what should independent schools do now? The Chancellor Rachel Reeves' made a fiscal statement on Monday including making announcements on VAT and independent schools on 29 July 2024. The announcement states that VAT will be applied to school fees starting from January 1, 2025. VAT specialist Gillian McGill chats to Not for Profit partner Giles Kerkham in this episode, discussing the implementation date, types of schools and services affected, the impact on parents and guardians, strategies to mitigate the financial impact, and the possibility of potential failure of independent schools. GET IN TOUCH! If you have any questions on today’s episode, and would like us to...2024-08-0219 min
Larking Gowen InsightsFurther education and the complexities of VATThis week, VAT Director Gillian McGill and Not for Profit Partner Giles Kerkham discuss the challenges faced by colleges in the UK in relation to finances and VAT treatment. They consider the recent recategorisation of colleges, new requirements and financial controls, difficulties with borrowing and refinancing, challenges with capital funding and the campaign for changes. They also reflect on the complexities that the sector faces in managing VAT reporting, and compare this with the position for other education providers. For further information on today’s topic, and how we can help support you and your busi...2024-03-2516 min