A Banbury-based private school has been sold for £4.5 million, just months after it announced it would close.
Carrdus School, which had over 100 pupils, officially closed its doors on Friday, July 4. Governors attributed the closure to recent financial pressures, including VAT increases introduced by the government.
The school was owned by Tudor Hall School, which also runs a boarding school in Banbury. Tudor Hall confirmed that the property and land were sold last month.
In a statement accompanying the school’s accounts, governors explained that after reviewing Carrdus’ future following the VAT hike, it became clear the junior school was no longer financially sustainable. Tudor Hall had been subsidising Carrdus’ losses for years, but declining student numbers and rising costs made continued support impossible.
“This led to the difficult decision to close Carrdus School and sell the site,” governors said. “The sale completed in July 2025 for £4.5 million. Bank loans totaling £2.03 million, secured against the asset, were cleared at the point of sale.”
Carrdus’ closure is part of a wider trend affecting UK private schools. Since January, the Labour government’s 20% VAT on private schooling has put additional strain on institutions, with other Oxfordshire schools such as Oxford Sixth Form College and Our Lady’s Abingdon also closing, and job losses reported at St Edward’s School.
Governors also cited the removal of charitable business rates relief and increased employer national insurance contributions as contributing factors.
Despite the challenges, Tudor Hall School remains in demand. Governors said that the school’s finances are now stable, with cash reserves sufficient to cover obligations for at least the next 12 months.
Alison Darling, chair of governors, reflected on the closure: "This final term has been one of mixed emotions for everyone connected to Carrdus. We are all deeply saddened that such a beloved school, cherished by generations of pupils, parents, staff, and governors over its 73-year history, has had to close because of government policy." Photo by Hidrafil, Wikimedia commons.