HMRC could reclaim money saved using schemes to avoid VAT on school fees, experts say

More than £500m was deposited into schemes used to pay fees upfront before VAT announcement Money saved using schemes to avoid paying VAT on private school fees could be clawed back by the government, tax experts have said, after it was revealed that the schemes had raised more than £500m.Analysis by the Daily Telegraph found that the UK’s wealthiest private schools took in £500m last year through “fee in advance” schemes. Parents who paid before the official announcement that VAT would be added to school fees hoped to avoid paying the extra 20% applied from January this year. Continue reading...

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