- VAT exemption for private school fees and boarding school fees will be removed from 1 January 2025
- Educational services and vocational training from private schools will be subject to standard VAT rate of 20%
- Fees paid in advance for terms after 1 January 2025 will also be subject to standard VAT rate
- Private schools may need to register for VAT, guidance will be provided in the future
- Draft legislation is in progress to align with UK rules and procedures
- HMRC released a policy paper brief on 29 July 2024 with more details to come
Source: gov.im
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.
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