A nice little earner: Private schools set to save £522m in tax

Private schools set to save £522m in tax

Private schools could receive tax rebates totalling £522m over the next five years as a result of their status as charities, according to a study of local council records.

Analysis of government data by CVS suggests that on 2,707 properties classified as private schools there would be a business rates bill of around £1.16bn over the next five years. It forecast that £634m of this would be paid, with £522m saved through the schools’ charitable status.

ACADEMY SCHOOLS STASH CASH

ACADEMY SCHOOLS STASH CASH

Academy schools in England are hoarding cash balances worth nearly £2.5bn – more than £550,000 per school and draining the education sector of funds that could be spent on learning.

Figures released by the Department for Education in response to parliamentary questions show that the 4,400 academies in England held cash reserves of £2.47bn at the end of the last financial year. That is more than the remaining 18,700 local authority maintained schools put together, which held a combined £2.18bn.