With the general election now behind us and VAT for Independent Schools confirmed to take effect from January 2025, many of our customers have expressed concerns about how these developments might impact them. At WCBS, we are committed to providing comprehensive support and ensuring a smooth transition through any legislative changes.
Already Supporting VAT
passFINANCE already accommodates VAT-registered schools and is compliant with Making Tax Digital (MTD). Our software has been effectively enabling schools to report on VAT to HMRC for many years, ensuring compliance and ease of use. This robust system is a testament to our commitment to providing reliable financial and administrative solutions to Independent Schools across the UK.
Preparing for Legislative Changes
As mentioned above, passFINANCE is well-prepared for the confirmed introduction of VAT for Independent Schools in January 2025. Once the finalised specification is published by the government we’ll work to better accommodate any more specific legislative changes around VAT, should we need to.
We’re confident your existing system already meets the basic requirements, however we’ll always look to improve the UX where we can, especially now that these routines will be used by almost all of our passFINANCE schools.
Plans Already in Place
Webinars
We’re running a variety of webinars for schools with our WCBS Webinar Package. These include:
- VAT Surgery Sessions
- Weekly sessions for schools to drop in and ask anything they need regarding VAT and passFINANCE.
- The content of these sessions is driven by the questions asked, and we update our answers each week based on what’s been published by the government.
- Best Practice Sessions with Moore Kingston Smith
- We’ll be running a best practice advice session. As we can only advise you on how you can do what you need in our system, the VAT team at Moore Kingston Smith will be able to support more with the “what’s” “why’s” and “when’s”. They’ve also published some handy notes here.
- Step by step tax switch on sessions
- Broken up for different audiences depending on whether or not you’ve already been through the switch on for MTD, we’ll run these sessions to walk you through the documentation provided.
View all events on our events page.
VAT Support Team
We are setting up a dedicated VAT Support Team to be on hand to answer your questions and provide guidance. This team will be well-versed in the specifics of the new VAT requirements and ready to assist you.
Updated Documentation
We are currently reviewing our VAT documentation and will reissue it to our schools once complete. This updated documentation will ensure that you have all the necessary information to comply with the new VAT regulations.
