In the press
17 September 2024
The implications for schools at financial risk: points to consider—Independent Schools Magazine
In the wake of the Government’s decision to impose VAT on private schools, partner Simon Jerrum has contributed an article to Independent Schools Magazine that explores the likely impact as well as points schools should consider in preparation for the policy’s implementation in January 2025.
In the article, he describes the competing interests at play, and advises that those involved in the management of independent schools seek professional advice on the likely impact of the policy on the school’s finances, as well as what the governors need to do to ensure they comply with their duties, and any steps that can be taken to minimise the impact of the change on students and the business in general.
This is undoubtedly a difficult time for the sector... Ultimately, how schools deal with stakeholders throughout this process is going to be critical... Schools that work with parents and have a flexible and collaborative approach will be in the best position to navigate the coming challenges.”
The full article is available to read online at Independent Schools Magazine.
Simon Jerrum heads up the restructuring and insolvency team at Russell-Cooke. He advises insolvency practitioners, directors, charity trustees, companies, investors and high net worth individuals on a wide variety of insolvency matters.
