Re Labour VAT on private schools policy. Every middle-class parent in Britain will cheer it. Then quietly vote Tory.
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No, quite.
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they're 'not for profits' - no shareholders - no profit = no tax - surplus ploughed back in & pay input VAT
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Except they’re more than that: they’re registered charities.
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that's because charity law in the U.K. is anachronistic - the point is there are no shareholders benefitting
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Charities are also supposed to provide a public benefit. The definition of this is stretched to the limit in the case of private schools.
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as I said they're 'not for profits' & established in a time when objectives included orphans & etc ...
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... either revamp charity law to encompass 'not for profit' or ban private education - don't bother ....
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... fiddling around with VAT to provide red meat to snarling Daily Mail readers
End of conversation
New conversation -
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