King William’s College announced has said the school will absorb a VAT increase for the spring and summer terms.
Changes to the UK’s tax rules on private schools will VAT charged on fees going forward.
The school said it has engaged in discussions with the Manx government to explore potential solutions to mitigate the impact of this change.
And claimed that both the Treasury and the Department for Enterprise “recognise the crucial role KWC and The Buchan School play in the island’s educational landscape and have committed to working collaboratively with the School to ensure a sustainable future”.
Principal Damian Henderson said: “King William’s College and The Buchan School are integral to the fabric of the Isle of Man’s education system. We are having positive discussions with the Isle of Man Government about the importance of maintaining independent education on the island.
“We remain committed to delivering an exceptional provision and look forward to continuing our work with the Isle of Man Government to secure this going forward.”
Sale
The school has also said it expects to have a list of potential buyers for its Westhill Site soon.
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