A well-loved prep school housed in a historic mansion has warned that it will close next year if a buyer can鈥檛 be found, citing VAT on fees and other financial pressures.
The governors at , at Overthorpe Hall in Banbury, Oxfordshire, released a statement saying the 120 pupil school 聽鈥 founded in 1957 聽鈥 was 鈥渓ikely to close鈥 from the end of the spring term 2025 鈥渦nless a commercial solution can be found鈥.
The statement said 鈥渁 number of Carrdus parents have been left with no alternative option but to give notice to withdraw their child from the school either at the end of the autumn term, or at the end of the academic year鈥 due to the imposition of VAT on fees in January 2025.
, the independent girls鈥 secondary school which has owned Carrdus since 2011, is unaffected.
The Banbury Guardian reported that “parents were in tears” at the announcement about Carrdus, which was described by the as “a real gem… providing a genuinely kind, safe setting in beautiful surroundings”.
: 鈥淚t is with deep sadness that the Governors confirm that they are currently reviewing the future of Carrdus School and that it is likely to close from the end of the spring term 2025, unless a commercial solution can be found.聽 The Governors are actively continuing to explore all possible avenues to avoid closure but wanted to give the Carrdus community as much notice as possible at this stage.聽聽
鈥淭he introduction of VAT on independent school fees mid academic year, further compounded by the loss of charitable business rates relief and the increase in employers鈥 national insurance contributions, has put a great deal of pressure on parents and schools. Consequently, a number of Carrdus parents have been left with no alternative option but to give notice to withdraw their child from the school either at the end of the autumn term, or at the end of the academic year.鈥
They added that the co-ed school would now focus on finding places for pupils in other local schools.
Julie Lodrick, headmistress of Tudor Hall School, : 鈥淲e are reviewing the future of Carrdus School following the government鈥檚 decisions to introduce VAT on parents鈥 school fees mid-way through the school year, remove charitable business rates relief and increase employers鈥 national insurance contributions.
“This combination has put both huge pressure on the school鈥檚 finances and our families with a number of parents giving notice to withdraw their child from the school.
鈥淭he governors have been focused on options that would allow Carrdus School to continue under new ownership. Whilst these efforts are continuing the governors have concluded, with profound regret, that if a purchaser of the school is not found, Carrdus School is likely to close at the end of the spring term 2025.
鈥淲e want to give parents as much notice as possible and are supporting them to secure places for their children at other local schools. We would like to take this opportunity to thank the parents and staff who have worked tirelessly to make Carrdus such a special school for generations of children who have flourished within its warm and nurturing community. This is a very sad day for the parents, the staff and of course the children, who will suffer most.鈥
The news comes as official statistics emerged suggesting that independent school closures have not been higher than usual in 2024, although the full effects of VAT on fees are yet to be seen.
