HMRC have issued new guidance for education providers on the implications of VAT registration following the introduction of VAT on private school fees. This is basic guidance covering institutions which must register for VAT and provides examples where fees are received before or after 30 October 2024 in relation to the January 2025 school term. The guidance also notes that the position could change subject to policy or legislative change at Budget 2024. Commentators including the CIOT and ATT have suggested that more time is required for the introduction of the policy urging the government to align introduction with the start of the academic year in September 2025.
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HMRC have issued new guidance for education providers on the implications of VAT registration following the introduction of VAT on private school fees. This is basic guidance covering institutions which must register for VAT and provides examples where fees are received before or after 30 October 2024 in relation to the January 2025 school term. The guidance also notes that the position could change subject to policy or legislative change at Budget 2024. Commentators including the CIOT and ATT have suggested that more time is required for the introduction of the policy urging the government to align introduction with the start of the academic year in September 2025.
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