For parents, grandparents and other family members alike, providing younger generations with a private education and a university degree is a common objective.
The average private school fees are now around c£16,700 per annum (Independent School Council 2017), and often higher, and continue to grow ahead of inflation. University tuition fees are up to £9,250 per annum, with living expenses on top.
The cost of a first-class education can therefore be a considerable and long-term financial commitment, particularly for larger families. While some may be able to simply meet the costs from ongoing earnings and income, planning ahead can be crucial, and there are a number of tax-efficient planning opportunities all should consider.
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