Private schools remain popular with parents in the face of rising costs but Labour’s plans to apply VAT to fees would make it unaffordable for many, new research1 from Premium Credit, a leading provider of finance for school fees, shows.

Premium Credit is offering an instalment solution for credit brokers’ customers needing to pay tax bills during the current self-assessment season.

With the FCA currently sending invoices to regulated firms for annual fees, Premium Credit is providing a finance option to cover the cost. This allows firms to spread the cost over monthly payments, which can help them manage cash flow.

New research with headteachers, bursars and finance managers at fee-paying private schools in the UK reveals that over the past three years, 74% have had to delay or cancel investing in new facilities and hiring staff because of delays in parents and carers paying their children’s fees. The study was commissioned by leading finance company Premium Credit, which through its School Fee Plan (SFP) provides funding to parents enabling them to spread the cost of their children’s school fees.

Nearly one in 12 SMEs – around 440,000 firms - say they have missed tax payment deadlines in the past year with a third of them admitting to missing five or more, new research2 from Premium Credit, a leading provider of finance for companies’ tax bills, shows.

New analysis from the UK’s leading insurance premium finance company, Premium Credit, shows the Construction sector borrows the most to fund insurance but the Wholesale and Retail Trade sector is the fastest-growing.