KUALA LUMPUR (May 5): The British Labor Party plans to impose value added tax (VAT) on boarding fees as well as private education in the country if it wins the next election. financial times (FT) reported this, citing party officials.
Leader Keir Starmer has said in 2021 that if he wins government he will abolish the long-standing VAT exemption for private schools, which would lead to a 20% rise in education costs, but the main opposition party Estimating increases in education costs. According to , 1.5 billion pounds (8.9 billion ringgit) will be earmarked to fund state schools. F.T..
Tax advisers say boarding surcharges could be exempt from VAT as they could be defined as “welfare services” under the VAT Act, but Labor Party insiders say said. F.T. Under the party’s new regulations, boarding will be subject to value-added tax due to its association with the key supply of education.
“The party is calculating the revenue impact of its policy proposals by using potential VAT revenue from boarding fees, which it uses to fund free breakfast clubs and mental health support across schools. We plan to use it to provide F.T. Said.
To deal with the potential impact of VAT, private schools in the UK will consider offering bursaries and bursaries that may be reduced, with several years’ worth of fees paid upfront in advance of the proposed amount. It is trying to attract more international students depending on the price while encouraging parents to do so. Policy begins to move.
F.T. At least one overseas school has said it is offering discounted fees to UK parents due to concerns about value-added tax on education in the country. Epsom College in Malaysia, a boarding school that is a sister school to Epsom College in Surrey, offers British parents £28,000 a year for their British students’ education from Years 9 to 13. Giving you the opportunity to pay the frozen fee. The package is for his 2024-25 academic year and includes three return flights between London and Kuala Lumpur during the holidays.
“Our research shows that if the VAT policy were implemented, many British parents would have to consider other types of schools, and many would also consider overseas schools. If there are any parents who are truly affected. [policy] We want to provide this opportunity,” said Mark Lankester, CEO of Epsom University Malaysia. F.T..
