Question:
Are there any tax benefits to setting up a learning college?
Could you please guide me as to what tax benefits may be available when setting up a learning college? What and how can a tax saving plan be drawn for this type of college institute?
Arthur Weller Replies:
A learning college is a self employed business like any other, selling educational services to students. However from a tax perspective two things are important for you to look into. Depending on what you are doing, you may be able to get charitable status for some or all of your activities. Secondly, some of your activities may be standard rated for VAT purposes, and some may be exempt.
