More than £500m deposited with schools upfront by parents hoping to avoid taxMoney saved using schemes to avoid paying VAT on private school fees could be clawed back by the government, tax ...
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More than £500m deposited with schools upfront by parents hoping to avoid tax
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...Source: Guardian - World News
