Welcome to the Spring 2026 edition of our Schools Briefing for independent schools, where we provide updates and insights on accounting, tax, reporting and governance for school bursars and Governors.
To begin, Phil Salmon, Partner and Co-Head of VAT, reflects back on a year since VAT was introduced on school fees and provides a reminder of the key tax points to consider. He goes on to look at a First-tier Tribunal case from September 2025 and how this may impact independent schools.
Our first guest authors for this edition, Mark Traynor, Partner and Jordon Waites, Real Estate Associate at Bates Wells, navigate the property provisions of the Charities Act as schools consider expanding through mergers, consolidating multiple sites or seeking to unlock value from surplus land. They consider the primary objective of the Act and offer some practical and strategic considerations for schools.
Jane Askew, Partner and Head of Education, looks at the impact of the revised Charities SORP for independent schools and advises that it might be a good idea to start thinking about the implementation of the new regulations now. She goes on to consider the key changes that may affect schools, and how the heightened interest in school’s financial statements in the current environment may present a timely opportunity to revisit the style and content of governors’ reports.
Our second guest author, Ben Minter, Portfolio Director at Cazenove Capital, reflects on what lessons can be learned from the past and how schools can best position themselves for the future. He starts by reflecting back on the key events affecting global markets in 2025 before looking ahead to what 2026 may have in store.
Nick Bustin, Employment Tax Director, looks at managing risks around visa conditions and working hours. He considers two common areas of risk and what processes schools should have in place to manage those risks.
Finally, Rakesh Vaitha, Risk Assurance and Advisory Services Director, shares his thoughts regarding business resilience and third-party risk management as schools find themselves operating in a more challenging risk environment.
We hope you enjoy this edition and find the articles both useful and of interest. If you have any questions about the topics covered, please feel free to reach out to the authors, your usual HaysMac contact, or me for further information and guidance.
