Independent Schools And Colleges
A good independent school can be judged by the same criteria as all other schools but with the additional requirement to balance income and expenditure. Independent schools are more susceptible to the ups and downs of the economy. It is therefore hugely important that Independent Schools have access to the best resources and support available.
At Foot Anstey we have developed a ‘Supporting Schools and Colleges’ package that identifies the core issues affecting Independent Schools:
- Business Partnerships
- Charities
- Corporate liability
- Data security/Freedom of information
- Debt recovery
- Employment
- Governance
- Property
- Student related issues
- Tax
Take for example debt recovery, which in the current climate offers some real challenges in terms of maximising cash flow and keeping on top of unpaid fees. These issues need to be handled in a sensitive and collaborative way to ensure that the schools reputation is steadfastly maintained. At Foot Anstey we pride ourselves as working as an accomplished adjunct to your credit control function, providing support, guidance and services that will maximise recovery.
A further example is tax advice, considering the VAT implications to schools of property development and construction. Recently we have approached HMRC seeking clearance on a tax-efficient structure with respect to the VAT issues of a large construction project for a charitable school. Our specialist tax lawyers have considerable expertise in all areas of tax and can tailor their advice to your requirements ranging from broadbrush guidance on the phone through to liaising and negotiating with HMRC on your behalf in relation to specific tax queries. Tax is a complex area and it is often cost-effective to take good advice up front rather than make expensive mistakes which could even result in financial penalties.
The package is structured in such a way so as to offer significant benefits to a participating school, not only the pecuniary benefits of fixed fee arrangements but benefits to your students and their families, who are after all the most important individuals in your world.
For initial advice and further information on our ‘Supporting Schools and Colleges’ package please contact Julia Green on 01752 675504 or email julia.green@footanstey.com
