Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Eton College to raise fees by 20% after VAT introduction

by August 31, 2024
August 31, 2024
Eton College to raise fees by 20% after VAT introduction

Eton College has announced it will increase fees by 20% from January 2025, passing the full cost of the newly introduced VAT on private school fees directly to parents.

This change will see annual fees rise from £52,749 to over £63,000, affecting most families except those on full bursaries. The decision follows the government’s move to apply VAT to private education, a policy aimed at raising funds for state schools, which has been met with criticism from independent school leaders.

In a letter to parents, Eton expressed regret over the government’s decision, highlighting the financial burden this tax would impose. Lord Waldegrave of North Hill, the outgoing provost, noted the difficulty for parents adjusting to such a significant increase on short notice, stating, “While this news was not unexpected, we regret that the Government has chosen to tax education in this way.” He acknowledged that the 20% rise might make Eton unaffordable for some families, adding that the college might expand its £10 million financial assistance fund to support those impacted by the fee hike.

Eton is the first major school to pass the full VAT cost onto parents, while other prominent institutions, such as Alleyn’s School and Stowe School, have also announced significant fee increases, albeit at lower percentages. Alleyn’s in Dulwich will raise senior school fees by 15.5% from January 2025, and Stowe is planning a 15% increase. Latymer Upper School in west London and other private schools are expected to announce similar changes as they adjust to the new VAT rules.

The VAT policy, driven by Labour’s agenda to generate approximately £1.5 billion for the state sector, has prompted concerns about the affordability of private education. Headteachers from various schools, including Stowe’s Anthony Wallersteiner, have voiced opposition, warning of potential repercussions such as a shift of students from private to state schools, which could increase the burden on the public education system.

Parents now face a tight deadline to make decisions about their children’s education, as most private schools require a term’s notice to withdraw pupils. With these substantial fee increases on the horizon, families must quickly assess the financial impact and decide whether private education remains a viable option.

Read more:
Eton College to raise fees by 20% after VAT introduction

0
FacebookTwitterGoogle +Pinterest
previous post
What Would a Top in Semiconductors Mean for the S&P 500?
next post
Q&A with Senior Helpers Glen and Michelle Scharfeld

You may also like

Tax hikes arrive but IR35 remains freelancers’ biggest...

April 6, 2023

New research indicates bank jargon could be fuelling...

August 9, 2023

Entrepreneurs petition chancellor to maintain business tax relief

October 24, 2024

xtype hits $10.8 million In Funding, Amplifying Its Impact...

October 24, 2023

Business Owners Criticise Tax Hikes, Urge Chancellor Not...

November 22, 2024

Salaries rising as bosses struggle to find new...

August 15, 2022

Tax hikes blamed for slide in business confidence...

January 6, 2025

Greenberg’s Cobalt Holdings lines up London float with...

March 10, 2025

5 Thriving Sports Businesses to Start This Year

June 12, 2024

UK interest rates remain at 16-year high of...

May 9, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Senate Republicans ram Trump’s ‘big, beautiful bill’ through key test vote

      June 29, 2025
    • Chief Justice Roberts sounds alarm on dangerous rhetoric aimed at judges from politicians

      June 29, 2025
    • Britain’s fastest-growing firms revealed for 2025: Dfyne, Nala’s Baby and Hawkstone lead the charge

      June 29, 2025
    • Schumer to force Senate reading of Trump’s entire ‘big, beautiful bill’

      June 28, 2025
    • Rubio condemns Iran’s ‘unacceptable’ threats against IAEA director

      June 28, 2025
    • Key blue state Republican says Senate’s local tax write-off offer is a ‘good deal’

      June 28, 2025

    Categories

    • Business (8,330)
    • Investing (2,081)
    • Politics (15,853)
    • Stocks (3,177)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved