Non-dom exodus: Top London dealmaker quits UK for Switzerland Wealth One of London’s most successful private equity dealmakers has left the UK for Switzerland, adding to the wave of wealthy individuals quitting Britain in the wake of the government’s crackdown on wealth. Kurt Bjorklund, the executive chair of Permira who until recently was the buyout giant’s managing partner, relocated to the low-tax jurisdiction in the [...]
Laurent-Perrier: King’s champagne supplier blames private school VAT for sliding sales Retail Labour’s introduction of VAT on private school fees contributed to profit at Laurent-Perrier, which supplies King Charles III with champagne, being significantly cut during its latest financial year. The division of the French giant has said its sales were impacted not only by the Labour government extending VAT to school fees but also higher interest [...]
Entrepreneur slams No 10 wealth grab – despite getting taxpayer-backed loan Business The founder of a hot tub and plunge pool business has said he understood why “the masses” were leaving Britain and was accelerating plans to do so himself, despite his firm recently receiving a taxpayer-funded loan to fuel its international expansion. Rob Carlin, who runs Derbyshire-based spa company Superior Wellness, blamed a succession of punitive [...]
Minister says only ‘average incomes’ up to £39k safe from Reeves’ tax hikes July 15, 2025 A government minister has said that Labour will stick to its manifesto commitment not to raise personal taxes, at least for those on “average incomes” – earning up to £39,000. Successive ministers over multiple days of media rounds have been caught in an increasingly tangled mess of definitions of what it means to be “wealthy”, [...]
Top private school faces job cuts after Reeves’ tax grab June 21, 2025 A prestigious private school has said it may be forced to make job cuts due to the Labour government’s removal of VAT exemption on school fees. Edinburgh-based Fettes College – where former Prime Minister Tony Blair is among alumni – has said the introduction of VAT on school fees contributed to the “difficult” decision to [...]
Private school VAT campaigners lose court challenge June 13, 2025 A group of families with children at private schools have lost their High Court battle over the government’s decision to apply VAT on school fees, with a judge ruling it did not sufficiently infringe on pupils’ human rights. Campaigners had brought legal action against the Treasury, arguing that the change to private schools’ tax status [...]
Top private school warns Reeves’ ‘unwelcome’ tax hikes will cost millions May 13, 2025 One of the top private schools in the UK is “taking stock” as it warns Chancellor Rachel Reeves’ tax hikes will cost it millions. Gresham’s School, whose former students include Sir James Dyson – who donated £35m in 2023 – added it will have to now take action to make sure it “does not become [...]
New data reveals VAT on school fees could hike costs by £75,000 April 28, 2025 The government’s policy of VAT on school fees would introduce a price hike in excess of £75,000 for families sending children to independent schools, according to new analysis by wealth manager Rathbones. According to the data, the average cost of sending a child to an independent day school for the duration of their time at [...]
Private school VAT case dragged back into court April 14, 2025 Parties involved in legal action over private schools fees have been recalled to court as government aims to make a report inadmissible.
‘Fighting to overturn cruel tax’: Parties gear up for legal fight over private school fees March 21, 2025 Three claimant groups gear up for a legal challenge of the government's VAT policy on private schools next month