Latest news with #governing board
Yahoo
4 days ago
- Business
- Yahoo
Private school cites VAT change for closure
A private school has cited the introduction of VAT on fees as its main reason for closing after 160 years. The governing board for Our Lady's Abingdon (OLA) in Oxfordshire said the decision had been taken "only after exhausting every possible option to secure the schools' future". It cited "a range of economic pressures" and said governors of the independent had explored "every possible avenue to avoid closure" in the recent months. The government had said adding VAT to fees would raise £1.8bn a year by 2029/30 to invest in public services, "including the state education system". At the time of the announcement, the school had 368 pupils, despite a capacity of 540. "Extensive talks took place with other schools and organisations, with the hope of securing a merger or acquisition," the statement said. It added that even though there had been "genuine optimism" for a solution, "those talks broke down last week, leaving no viable path forward". The board listed "mainly the introduction of VAT on school fees, higher National Insurance contributions, the ending of business rates relief for independent schools, and rising operational costs" as the factors behind the closure. It added that despite limiting fee increases, "affordability has become a growing concern for an increasing number of families". "This has led to a sharp decline in pupil numbers in recent months, threatening the school's short and long-term viability," it continued. The school said it would focus on supporting families in securing alternative school places in Oxfordshire, assisting staff through the redundancy process and helping them find new employment. You can follow BBC Oxfordshire on Facebook, X (Twitter), or Instagram. Similar stories Private school to close due to VAT change Private school parents must pay 'fair share', court told Private school VAT 'discriminatory', court hears Related Links Our Lady's Abingdon Department for Education
BBC News
4 days ago
- Business
- BBC News
Abingdon private school cites VAT change as reason for closure
A private school has cited the introduction of VAT on fees as its main reason for closing after 160 governing board for Our Lady's Abingdon (OLA) in Oxfordshire said the decision had been taken "only after exhausting every possible option to secure the school's future".It cited "a range of economic pressures" and said governors had explored "every possible avenue to avoid closure" in recent government had said adding VAT to fees would raise £1.8bn a year by 2029/30 to invest in public services, "including the state education system". At the time of the announcement, the school had 368 pupils, despite a capacity of 540."Extensive talks took place with other schools and organisations, with the hope of securing a merger or acquisition," the statement added that even though there had been "genuine optimism" for a solution, "those talks broke down last week, leaving no viable path forward".The board listed "mainly the introduction of VAT on school fees, higher National Insurance contributions, the ending of business rates relief for independent schools, and rising operational costs" as the factors behind the closure. It added that despite limiting fee increases, "affordability has become a growing concern for an increasing number of families"."This has led to a sharp decline in pupil numbers in recent months, threatening the school's short and long-term viability," it school said it would focus on supporting families in securing alternative school places in Oxfordshire, assisting staff through the redundancy process and helping them find new employment. You can follow BBC Oxfordshire on Facebook, X (Twitter), or Instagram.
