Understanding the Impact of VAT on Private School Fees for HNWIs

Over half of parents with children in private schools are likely to feel the impact of the upcoming VAT on school fees.

Starting in January, private school fees will be subject to VAT. As a result, many High-Net-Worth Individuals (HNWIs) are considering transferring their children from private to state schools.

Who Will Be Impacted, and How?

Recent research highlights the significant impact the?VAT on private school fees?could have. The study analyzed responses from 2,000 HNWIs and found that 993 parents had children attending private schools.

• 55% of these 993 parents expressed concern?about the rising fees affecting their children’s education.
• Only?15% of parents stated their children would remain in private education?despite the fee hike.
• 20% of parents plan to transfer their children?to more affordable schools within the next academic year.
• Also Read:
• Understanding the Impact of VAT on Private School Fees for HNWIs