Many parents value the standard of education offered by independent schools and will pay for that privilege.
Even if the children do not go to an independent school, they could go to university. In this case, the children can end up with a huge outstanding student loan which may end up being a burden for many years. So Planning for these costs can help avoid that situation, however, like other major purchases, a private education is a long term financial commitment.
At Moss and Roberts we are able to advise on the broader picture, looking holistically at your life, business affairs and family, exploring methods of investing and their tax efficiencies.
For parents, grandparents or other relatives who are wanting to put financial arrangements in place. Our qualified advisers can discuss with each individual a range of strategies including inheritance tax advantages for grandparents, trust funds and gifting to help meet the cost of private education.