Join the next FREE Plug Your Money Leaks Challenge. The same applies to the stock market. This article is not personal advice. A school provides a child's support network, moral guidance and creates a platform for adult life. Past performance is not indicative of future results and the value of investments can fall as well as rise. The good news (if there is any) is that, according to the ISC 2018 report, the average overall fees only increased by 3.4% between 2017 and 2018. Coronavirus - we're here to help So if you can be flexible about location, this has the potential to save you a considerable amount. registered in England (Company No 02017289) with its registered office at 26 Red Lion If you would like to speak to an adviser at Progeny, please feel free to contact us. This should result in no tax to pay as long as income generated by the investment is within the child’s personal allowance and any gains made are within the child’s Capital Gains Tax allowance (which is £12,000 for 2019/20). It is also important that the grandparents create the business and not the parents. We’d be delighted to discuss options for funding private school fees, or other areas of financial planning, with any of your followers ? The private school fees are then paid by paying out dividends to the children. If you would like to speak to an adviser at Progeny, please feel free to contact us. As you start to juggle the figures, family holidays, a new car and funding your own retirement can start to feel like inevitable sacrifices. The Trust will only consider applications where the school and the parents make a contribution to the fees. The school will also freeze fees for the autumn term in September. the International Baccalaureate, Standards and Higher). Most people are aware of the benefits of investing into ISAs. Newsroom articles are published by leading news It's about far more than gaining a first-class education. How to reduce the costs of paying for private school fees. On Monday, Tes reported that prep schools are likely to make fee reductions during the coronavirus outbreak. Please check your entries and try again. Something went wrong. W1J 9EJ, 91 Crane Street The calculations quoted in this article are for illustration purposes only. Alternatively, consider grammar schools – Using private tuition to get your child into a grammar school could be far more cost effective for you. The benefit of starting early is you benefit from ‘compound interest.’ You can smooth out the rocky ride of the stock market by drip feeding money in each month. They could use their own ISA, but this might not be an option if, for example, they have used their annual ISA allowance or want to reduce the Inheritance Tax liability for their loved ones.