- Private schools in the UK may be forced to quit the Teachers’ Pension Scheme (TPS) if Labour’s proposed VAT plans are implemented.
- Labour plans to introduce VAT on private school fees immediately if they win power, potentially leading to higher charges for parents.
- Smaller private schools are expected to be most affected by the policy.
- Headteachers have stated that they will have to find cheaper alternatives to the TPS if the policy comes into force.
- The TPS requires employers to contribute 23.68% of a teacher’s salary to their pension pot each year.
- Private schools are already making contingency plans for a potential Labour government.
- Some schools are considering making spending cuts to absorb the additional levy instead of passing it onto parents.
- The headteacher of Emmanuel Christian School expressed concerns about the school’s survival under Labour’s plans.
- The chief executive of the Independent Schools Council called for a full consultation before implementing the VAT plans.
Source: inews.co.uk
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
