Prime Minister Keir Starmer meets pupils at Holy Cross Catholic Primary School in Liverpool. PA
Prime Minister Keir Starmer meets pupils at Holy Cross Catholic Primary School in Liverpool. PA
Prime Minister Keir Starmer meets pupils at Holy Cross Catholic Primary School in Liverpool. PA
Prime Minister Keir Starmer meets pupils at Holy Cross Catholic Primary School in Liverpool. PA

One in eight 'high net worth' UK private school parents to withdraw children this academic year


Gillian Duncan
  • English
  • Arabic

One in eight parents with investable assets of £250,000 ($332,720) or more plan to move their children from UK independent schools into the state sector this academic year, a survey has found.

More than half, or 55 per cent, of almost 1,000 high net worth (HNWI) private school parents questioned by wealth firm Saltus say their children’s education could be disrupted as a direct result of the UK Labour government’s decision to add VAT to private school fees in January. In total, 13 per cent say they will move their children into schools in the state sector this academic year, with about a fifth, or 21 per cent, saying they could move them to a less expensive school in the next year.

Another 11 per cent of high net worth parents with children at boarding school will move them to be a day pupil at their existing school, and 10 per cent will call on family or friends for financial support to get through this year before moving them. Another one in 10 say they are even considering moving abroad as a result of the government’s imposition of VAT on school fees.

Only 15 per cent said the policy would not affect their children's education, while 6 per cent said school fees are now their biggest anxiety – up from zero in January 2024. The survey reveals many parents are already struggling with the rising costs of private education before the imposition of VAT, with 96 per cent saying fee increases in recent years are already affecting them and 15 per cent saying they are no longer able to enrol their children.

Mike Stimpson, a partner at Saltus, said: “The decision by the new government to add VAT to school fees has been, understandably, an unpopular one with HNWIs, especially when it was announced that the policy would be implemented in January rather than waiting until the next academic year.

“This decision, as we can see from our research, will impact more than half of families with children at private school, with 13 per cent of children possibly removed from their existing school and moved into state education in the next year.

“Even before the VAT announcement, our study shows that price rises over the past few years were already having a significant impact on parents’ ability to pay, with many forced to borrow to keep their children in their current schools.”

Most expensive UK boarding schools – in pictures

  • 1. Brighton College. Fee per annum: £52,920. Photo: Brighton College
    1. Brighton College. Fee per annum: £52,920. Photo: Brighton College
  • 2. Queen Ethelburga’s College. Fee per annum: £52,368. Photo: Wikimedia Commons
    2. Queen Ethelburga’s College. Fee per annum: £52,368. Photo: Wikimedia Commons
  • 3. Oxford International College, in Oxford. Fee per annum: £50,688. Getty Images
    3. Oxford International College, in Oxford. Fee per annum: £50,688. Getty Images
  • 4. Concord College, which is located in the grounds of Acton Burnell Castle, above. Fee per annum: £47,500. Photo: Wikimedia Commons
    4. Concord College, which is located in the grounds of Acton Burnell Castle, above. Fee per annum: £47,500. Photo: Wikimedia Commons
  • 5. Cheltenham Ladies College. Fee per annum: £44,790. Photo: Wikimedia Commons
    5. Cheltenham Ladies College. Fee per annum: £44,790. Photo: Wikimedia Commons
  • 6. Tonbridge School. Fee per annum: £44,835. Photo: Wikimedia Commons
    6. Tonbridge School. Fee per annum: £44,835. Photo: Wikimedia Commons
  • 7. Eton College. Fee per annum: £44,094. Getty Images
    7. Eton College. Fee per annum: £44,094. Getty Images
  • 8. Harrow. Fee per annum: £43,665. Photo: Wikimedia Commons
    8. Harrow. Fee per annum: £43,665. Photo: Wikimedia Commons
  • 9. Winchester College. Fee per annum: £43,335. Photo: Wikimedia Commons
    9. Winchester College. Fee per annum: £43,335. Photo: Wikimedia Commons
  • 10. Roedean School. Fee per annum: £42,135. Getty Images
    10. Roedean School. Fee per annum: £42,135. Getty Images

About a fifth, or 22 per cent, say they could move house to be nearer a cheaper school and 17 per cent have made, or will need to make, financial sacrifices. Another 18 per cent say they are already receiving – or will need – financial support from friends and family to continue to afford the fees.

The study comes after warnings that private schools are being forced to cut back on bursaries for pupils who are in need of financial assistance and considering raising the costs of using facilities in response to the VAT raid. The head teacher of Bolton School told The Times it had planned to boost bursary provision from 20 per cent of pupils to 33 per cent by 2030 but the target was “not now achievable”. Philip Britton said “the rise in fees, however it is managed, will make [private] schools more exclusive”.

Mount Kelly, a day and boarding school in Devon, is also considering slashing the £950,000 it spends on bursaries and scholarships, which could be halved, with the loss of 100 bursaries. “In five years, I have no doubt across the nation we are facing the reality of fewer children from the poorest families in private schools,” head teacher Guy Ayling told the newspaper. Independent School Council figures show that of the 38,547 children who received means-tested bursaries last year, only 7,590 paid no fees.

Education Secretary Bridget Phillipson, who reiterated the policy to loud applause at the Labour party conference on Monday, said she “doesn’t accept” that bursaries will be cut in response to the imposition of VAT and removal of business rate relief. “Some of them have got very large incomes and actually a relatively small percentage of that income going towards bursaries,” she told Times Radio. “Changes around VAT should not and must not impact on the work that they are doing around bursaries. There is an expectation of course that that would continue.”

Countries offering golden visas

UK
Innovator Founder Visa is aimed at those who can demonstrate relevant experience in business and sufficient investment funds to set up and scale up a new business in the UK. It offers permanent residence after three years.

Germany
Investing or establishing a business in Germany offers you a residence permit, which eventually leads to citizenship. The investment must meet an economic need and you have to have lived in Germany for five years to become a citizen.

Italy
The scheme is designed for foreign investors committed to making a significant contribution to the economy. Requires a minimum investment of €250,000 which can rise to €2 million.

Switzerland
Residence Programme offers residence to applicants and their families through economic contributions. The applicant must agree to pay an annual lump sum in tax.

Canada
Start-Up Visa Programme allows foreign entrepreneurs the opportunity to create a business in Canada and apply for permanent residence. 

Global state-owned investor ranking by size

1.

United States

2.

China

3.

UAE

4.

Japan

5

Norway

6.

Canada

7.

Singapore

8.

Australia

9.

Saudi Arabia

10.

South Korea

How much do leading UAE’s UK curriculum schools charge for Year 6?
  1. Nord Anglia International School (Dubai) – Dh85,032
  2. Kings School Al Barsha (Dubai) – Dh71,905
  3. Brighton College Abu Dhabi - Dh68,560
  4. Jumeirah English Speaking School (Dubai) – Dh59,728
  5. Gems Wellington International School – Dubai Branch – Dh58,488
  6. The British School Al Khubairat (Abu Dhabi) - Dh54,170
  7. Dubai English Speaking School – Dh51,269

*Annual tuition fees covering the 2024/2025 academic year

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Company profile

Name: Thndr

Started: October 2020

Founders: Ahmad Hammouda and Seif Amr

Based: Cairo, Egypt

Sector: FinTech

Initial investment: pre-seed of $800,000

Funding stage: series A; $20 million

Investors: Tiger Global, Beco Capital, Prosus Ventures, Y Combinator, Global Ventures, Abdul Latif Jameel, Endure Capital, 4DX Ventures, Plus VC,  Rabacap and MSA Capital

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2012-2015

The company offers payments/bribes to win key contracts in the Middle East

May 2017

The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts

September 2021

Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act

October 2021

Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence 

December 2024

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May 2025

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July 2025

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August 2025

Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision

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November 2025

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Points to remember
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RedCrow Intelligence Company Profile

Started: 2016

Founders: Hussein Nasser Eddin, Laila Akel, Tayeb Akel 

Based: Ramallah, Palestine

Sector: Technology, Security

# of staff: 13

Investment: $745,000

Investors: Palestine’s Ibtikar Fund, Abu Dhabi’s Gothams and angel investors

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Updated: September 24, 2024, 10:47 AM