- VAT Registration Requirement: Private schools and connected persons must register for VAT if their taxable turnover exceeds £90,000 in the past 12 months or is expected to exceed £90,000 in the next 30 days.
- Effective Date of VAT: School and boarding fees for terms starting on or after 1 January 2025 will be taxable at a standard VAT rate of 20%.
- Registration Timeline: Schools must register for VAT within 30 days of exceeding the threshold, with the effective date based on when the threshold was surpassed.
- Voluntary Registration: Education providers can register for VAT voluntarily if providing taxable services or goods, even if not required by turnover thresholds.
- Post-Registration Obligations: Registered schools must keep VAT records, submit VAT returns, and can reclaim VAT on business expenses.
Source gov.uk
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