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  • Public schools have spent a couple of decades upping their game to appeal to the rich. There's been an arms race to get the best sports facilities, theatres etc. Some have borrowed heavily. There's now a tranche of 'all Steinway' schools. (Every piano is a Steinway.) Fees have gone up from 15.k to 60k in 20 yrs. And that's before the VAT thing. Maybe we'll see some schools in trouble? Presumably no more Russian pupils. Maybe no Chinese either? I assume Xi Ping has clamped down on such disloyalty? https://www.ft.com/content/852bf8c5-302b-44ba-a022-79b8ac4fcb42

  • Wealthy schools can do a backdated VAT claim, so they'll effectively get a cash injection if they've invested heavily in building work over the last few years. I read that this might be as far back as 10 years?

    I imagine most won't be in trouble at all.

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