If schools who operate as a charity lose their charitable status, then the charitable aims and objectives will go.
I wonder if people realise what that means….
It means…. In one scenario, Nothing to the tax coffers…. The companies involved will balance the books in order to make sure they don’t make a profit and thus pay no tax. A lot of private schools will invest in the facilities, buildings, or remunerate the senior mgmt better, etc. In another scenario, the shareholders will benefit…. Profit making organisations will return a dividend or profit to its owners. Great, the rich just got richer. And if you think there’s more tax coming from the real rich, hahahaha. Oh, and the kids who used to benefit from those charitable aims, subsidised places etc, won’t get them now. Great. You just increased inequality.
Id say there were richer pickings than schools though if charitable status was open to far more scruitiny. I don’t see many heads of schools driving lexus’s, porches or bentleys, but i do see that from the heads of other charities that made an absolute fortune from the last labour governments training initiatives, such as A2E (nice stately home paid a labour baroness for by the tax payer) or a training company that has had hundreds of millions of tax payers cash, but is half owned by a union, so i’m sure they aren’t too worried about the future. The bar for being a charity isn’t really that high, the salaries only have to be market appropriate, and any profits all go sit in their reserves, in fact a lot of them make a fair chunk of cash from investment returns on their reserves…. That’s not taxed either. I’m sure most do something good, but for that good, there’s a lot of taxpayer cash going out of the treasury coffers into private hands and a lot of tax not due.
People…. Stop looking at the headlines…. They are a distraction to the true excesses on both sides of the house and their ‘friends’.
I sent one of my kids to private school, & one declined. Would some extra % make any difference to me. Nope. I had to give up my indulgent hobbies and the family had to make a few concessions. Wasn’t hard, it was our kids education, nothings more important than that. I went through gladiator (state) school myself. It was awfull. If envy means you think that i’m a bad person or i should pay more tax, fair enough. I think i should pay less and that the benefits and criminal justice systems are a shambles and undermining our society, bringing out the best and worst in us. We have different opinions, we see the world differently, i see opportunity everywhere and every time the rules change, i look for the opportunity.
We are likely to see a Labour government soon, the pendulum swings the other way now, it’s about time. I’m glad just it’s not Corbyn. Irrespective, i’ve made provision that any labour wealth redistribution policies will have no impact me, in fact, i suspect i will be better off…. And all these silly headlines about tax grabs of this and that will have virtually no impact in the merry go round of the treasury filling its coffers and giving it away. I’m not the sharpest tool in the box by a long way, and if i can protect myself from a labour government, i’m pretty sure those with access to tax experts, offshore havens, multiple passports are much further ahead than i am. A rather sad society if you step back and look at it cynically.