The Next Labour Govt In London

[Lxxx]

52 minutes ago, Banker said:

Only potentially for high income earners eg £100k+ which still compares favourably to UK rates of 40% on over c£43k. Also inheritance, capital gains and other taxes are going to go up considerably in UK and none here.

...for now....

[2112]

KWC is to removed off the VAT exemption list from the 1st January 2025, fees rising by £5500. IOMG must be rubbing their hands at the thought of extra VAT, increasing with the VAT revenue agreement with the UK. 

[Lxxx]

2 minutes ago, 2112 said:

KWC is to removed off the VAT exemption list from the 1st January 2025, fees rising by £5500. IOMG must be rubbing their hands at the thought of extra VAT, increasing with the VAT revenue agreement with the UK. 

I thought the IOM Gov was going to cover that, in order to keep KWC going and provide a suitable education establishment for HNWI.

[A fool and his money.....]

39 minutes ago, Lxxx said:

I thought the IOM Gov was going to cover that, in order to keep KWC going and provide a suitable education establishment for HNWI.

Really? Where did you hear that?

[Boo Gay'n]

1 hour ago, Lxxx said:

I thought the IOM Gov was going to cover that, in order to keep KWC going and provide a suitable education establishment for HNWI.

I can't imagine how big the outcry will be if they try that stunt.  As an old boy, Alf would have to recuse himself from any discussions/decisions in any case, surely?

[Roger Mexico]

35 minutes ago, A fool and his money..... said:

Really? Where did you hear that?

Well the Manx Radio piece does say:

Discussions are taking place between Treasury, the Department for Enterprise and KWC to address the potential impact of this change.

King William’s College educates around 500 pupils from both on-Island an internationally.

Admission fees for a current sixth form day pupil are £27,750, which with an added 20 percent VAT would increase by around £5,550.

Both ministers acknowledge the significant role King William’s College plays, not just in delivering education on the Island, but also in contributing to the local economy.

They say they are working closely with the college to explore ways to help navigate this transition and identify areas where government support might be provided.

[my bold].  It's otherwise a rather odd piece.  As I pointed out on the dedicated thread, the actual press release announcing the removal of the exemption was dated 1 August, so 4 weeks to get round reporting it is slow even by the standards of Manx Radio (or August).

According to ISC, there are 324 pupils at KWC and 219 at the Buchan, but the latter will include some at the nursery school and nursery education will continue to be exempt.  Incidentally the VAT will still be due on payment in advance for January onwards.

[asitis]

Probably the death knell for the Buchan and King Bills !

[Banker]

2 minutes ago, Roger Mexico said:

Well the Manx Radio piece does say:

Discussions are taking place between Treasury, the Department for Enterprise and KWC to address the potential impact of this change.

King William’s College educates around 500 pupils from both on-Island an internationally.

Admission fees for a current sixth form day pupil are £27,750, which with an added 20 percent VAT would increase by around £5,550.

Both ministers acknowledge the significant role King William’s College plays, not just in delivering education on the Island, but also in contributing to the local economy.

They say they are working closely with the college to explore ways to help navigate this transition and identify areas where government support might be provided.

[my bold].  It's otherwise a rather odd piece.  As I pointed out on the dedicated thread, the actual press release announcing the removal of the exemption was dated 1 August, so 4 weeks to get round reporting it is slow even by the standards of Manx Radio (or August).

According to ISC, there are 324 pupils at KWC and 219 at the Buchan, but the latter will include some at the nursery school and nursery education will continue to be exempt.  Incidentally the VAT will still be due on payment in advance for January onwards.

VAT refund as a grant, lots of ancillary jobs for staff, suppliers etc would be lost if they closed. Also potential for several hundred more pupils at local schools 

[Two-lane]

How many schools in England will close, and what may be the consequences of that?

[Twitch]

2 hours ago, 2112 said:

KWC is to removed off the VAT exemption list from the 1st January 2025, fees rising by £5500. IOMG must be rubbing their hands at the thought of extra VAT, increasing with the VAT revenue agreement with the UK. 

My back of my fag packet calculation reckoned about an additional £1.5 million per year to Treasury from this VAT. That's enough to pay for another 10 civil servants..

[WTF]

36 minutes ago, asitis said:

Probably the death knell for the Buchan and King Bills !

where will the young wizards and witches go  if that happens ?

[Hairy Poppins]

We should wait to see the Autumn Budget before we leap in and start dishing out £5,500 to wealthy families.

There's going to be a lot more shit coming down the pipe.... I suspect they'll be renegotiating the VAT agreement in favour of the UK before too long. 

They're looking under all the rocks for money to take...

[A fool and his money.....]

1 hour ago, Roger Mexico said:

Well the Manx Radio piece does say:

Discussions are taking place between Treasury, the Department for Enterprise and KWC to address the potential impact of this change.

King William’s College educates around 500 pupils from both on-Island an internationally.

Admission fees for a current sixth form day pupil are £27,750, which with an added 20 percent VAT would increase by around £5,550.

Both ministers acknowledge the significant role King William’s College plays, not just in delivering education on the Island, but also in contributing to the local economy.

They say they are working closely with the college to explore ways to help navigate this transition and identify areas where government support might be provided.

[my bold].  It's otherwise a rather odd piece.  As I pointed out on the dedicated thread, the actual press release announcing the removal of the exemption was dated 1 August, so 4 weeks to get round reporting it is slow even by the standards of Manx Radio (or August).

According to ISC, there are 324 pupils at KWC and 219 at the Buchan, but the latter will include some at the nursery school and nursery education will continue to be exempt.  Incidentally the VAT will still be due on payment in advance for January onwards.

Doesn't say financial support, although I wouldn't be surprised.

[A fool and his money.....]

1 hour ago, Banker said:

VAT refund as a grant, lots of ancillary jobs for staff, suppliers etc would be lost if they closed. Also potential for several hundred more pupils at local schools 

Plenty of jobs around - we're crying out for workers in those sort of sectors aren't we?

School rolls are falling and predicted to fall even more dramatically by the end of the decade, a few hundred would be easily absorbed.

We absolutely should not be providing assistance to wealthy people to send their kids to posh school in the current climate (or any other climate for that matter).

[Banker]

1 hour ago, A fool and his money..... said:

Plenty of jobs around - we're crying out for workers in those sort of sectors aren't we?

School rolls are falling and predicted to fall even more dramatically by the end of the decade, a few hundred would be easily absorbed.

We absolutely should not be providing assistance to wealthy people to send their kids to posh school in the current climate (or any other climate for that matter).

I anticipate some sort of financial help, local schools wouldn’t be able to cope as parents are already complaining about large class sizes now.