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Eton College, arguably the most famous private school in Britain, has announced it will pass on the full 20% increase to parents, making its annual fees £63,000.

Eton College will raise fees by 20% as a result of the government's removal of the VAT exemption on independent schools, it said in a letter to parents.

Some schools are taking action, perhaps most eye-catchingly the UK's best known fee-paying school, Eton College.

Until then he had followed a route familiar to the British elite, educated at Eton College and at Christchurch College, Oxford.

Born in Berkshire in 1936, the late financier was educated at Eton College and went on to study history at Christ Church College, Oxford.