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On 29 July chancellor of the exchequer Rachel Reeves delivered a statement to parliament on the state of public spending. She said she will deliver a Budget on 30 October reiterating the Labour Party’s commitment not to increase income tax National Insurance contributions or VAT. She also provided an update on several tax measures including draft Finance Bill legislation.
Private school fees
Draft legislation confirmed that from 1 January 2025 all education services and vocational training supplied by private schools will be subject to VAT at 20%. This measure will not affect pupils with special educational needs where those needs can only be met in private schools.
The government provides more detail of the policy in a technical note. Comments are invited comments on policy design questions by 15 September 2024.
The technical note...
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