In the United Kingdom, private schools (also called independent schools) are schools that require fees for admission and enrollment. Some have financial endowments, most are governed by a board of governors, and are owned by a mixture of corporations, trusts and private individuals. They are independent of many of the regulations and conditions that apply to state-funded schools. For example, the schools do not have to follow the National Curriculum for England, although many such schools do.
Historically, the term private school referred to a school in private ownership, in contrast to an endowed school subject to a trust or of charitable status. Many of the older independent schools catering for the 13–18 age range in England and Wales are known as public schools, seven of which were the subject of the Public Schools Act 1868. The term public school meant they were then open to pupils regardless of where they lived or their religion (while in the United States and most other English-speaking countries public school refers to a publicly funded state school). Prep (preparatory) schools (also known as private schools) educate younger children up to the age of 13 to prepare them for entry to the public schools and other secondary schools. In 2023, the Independent Schools Council reports that private schools contribute £16.5 billion to gross value added (GVA) in Britain.