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The upcoming VAT on private school fees, set to start in January 2025, will increase costs for families and could lead to shifts in school enrollment. This change is part of a broader effort to raise revenue and promote educational equality. The impact on private schools, state education, and financial aid remains a key point of discussion as the details of the legislation continue to unfold.

The 2024 King’s Speech outlined the Labour government’s plans under Prime Minister Sir Keir Starmer, focusing on economic stability, clean energy, public health, and border security. Key measures include VAT on private school fees, nationalisation of railways and energy, and new housing and immigration policies, introducing 40 new bills.

Discover the benefits of voluntary VAT registration, from reclaiming VAT on business expenses to enhancing your company’s credibility. Learn how to navigate different VAT schemes and streamline compliance with expert guidance from Sherwin Currid.

Starting a business as a sole trader comes with many advantages, but it also means that you are personally responsible for your business’s finances. One of these responsibilities includes registering for VAT if your turnover exceeds the threshold set by HM Revenue and Customs (HMRC).