A Very Unusual Charity: Eton College

by Irn Bru Fri Jun 05, 2015 12:00 am

Eton College is the principal fee paying school in Britain. Surprisingly, it’s also a charity. As a result, those who attend Eton are subsidised by the taxpayer. Charities in Britain have a number of finanacial advantages reflecting their charitable work: their contribution to the well- being of society. At first sight it appears odd that Eton qualifies but successive governments have let this anomaly stand. Fees are reduced by these special privileges to the benefit of those who will, to coin a phrase, ‘inherit the earth’.

Eton College is a very successful business. It has 1,300 pupils who pay fees amounting to circa £38.69 million p.a. ( 20% of their pupils pay less than the £33,270 annual fees.) VAT (UK transaction tax) exemption is worth circa £7.74 million to Eton. Additionally, Eton has property valued at £62 million and an investment portfolio of £213 million, both of which produce an income*. Each one of the the 1,010 pupils paying full fees are subsidised by £6,554 from VAT exemption. Full fees would be £39,924 if VAT exemption didn’t apply. An interesting example is with Harvard University (USA), which charges $67,844 (£39, 908) for its students. This is virtually identical to Eton- £33,270 + £6,654 (VAT exemption) = £39,924. The key difference is that Harvard is a private university. Harvard is also a world- renowned research university and Eton came 37th in the GCSE** league tables (2013) beneath many state schools.

Charities in Britain have many other benefits. Business rates are one fifth of the full rate and Eton pays no corporation tax. (I can’t calculate the impact of this for Eton.) Charitable Gift Aid legislation adds a further 28% to parental donations and fund raising activities creating a further income stream. Eton claims that a fifth of their pupils receive a discount. Pupils receiving this discount are an elite, selected to add lustre to Eton: they are cherry picked for Eton’s ‘charity’. This appears to be ‘window dressing’ for the Charity Commissioners’ perusal. Eton provides subsidies for poor pupils. The state then provides (invisible) subsidies for the vast majority of its (very rich) pupils. The deal for parents is quiet clear. Those paying full fees are subsidised by the state to total of £6,654 p.a.

More here...

http://oedeboyz.com/2014/08/29/a-very-unusual-charity-eton-college/

That's from 2014 and as far as I know this still goes on. I'm outraged.

by Guest Fri Jun 05, 2015 12:08 am

The average for all authorities across England is £4,550.54 per-pupil. -

http://www.sec-ed.co.uk/news/how-much-per-pupil-funding-will-your-school-get#sthash.27JB0p6T.dpuf

So more is spent on a child at Eton by the British Taxpayer then is spent on a child in state school.

Outraged doesn't begin to cover it!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

by Irn Bru Fri Jun 05, 2015 12:13 am

And remember Osborne announced cuts to the education budget today.

Ridiculous doesn't begin to describe this

by Guest Fri Jun 05, 2015 12:16 am

Haven't been listening to the news at the moment, too bloody depressing watching them f..k the country over, but cuts to education!!!!!!! So the future of our children and their children doesn't bloody matter to this load of tossers then!

by Irn Bru Fri Jun 05, 2015 1:11 am

I'm sure you will be conforted to know that you subsidised David Cameron's education with your tax contributions.

Amazing Huh!

by Guest Fri Jun 05, 2015 1:19 am

I would much rather have stood in front of him and burn it, like he did with the begger and the £50 note!

by Tommy Monk Fri Jun 05, 2015 2:26 am

Don't hear you lefties complaining about extra effort and money being spent on ethnic minorities while poor white British kids are left out...

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A Very Unusual Charity: Eton College

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