Parents wishing to give their children the benefit of a private education face startling costs. The average fee for a boarding school is over £30,000 a year for a single pupil, and for day pupils over £17,000. Then there are the costs of extras such as clothing and equipment.
Many parents and grandparents value the standard of education offered by independent schools and will pay for that privilege. Even if children do not go to an independent school, they may well go to university. Planning for these costs can help avoid the burden of a sizeable student loan.
The weekend financial pages gave reasonable (and in some cases extensive) cover to the increase to the contribution limit for the forthcoming Junior ISA to £3,600. It has been predicted that if a junior ISA were commenced at birth and the full investment permitted were made each year then at an assumed rate of growth […]
With rising tax rates, there is an increasing interest in tax-efficient savings vehicles. Maximum Investment Plans (“MIPs”) are one such vehicle. MIPs allow a cash sum (ranging anywhere from £10,000 to £2m) to be invested every year for ten years. Provided the specified annual investments are made for at least seven and a half years, […]
Fees are still rising faster than inflation, but only just. The Independent Schools Council (ICS) has published its latest annual census results. The highlights are: Overall pupil numbers fell for the first time since 2005, although the drop was only 0.6%. There was a 1.1% fall in boarders, who now only account for 13% of […]