The average annual fee for private schooling in Scotland stands at £10,773, up 19 per cent from £9,048 in 2010, according to new analysis from Lloyds Bank.

Despite the increase, private school fees in Scotland remain lower than in some parts of England. Fees increased by 26 per cent to an annual average of £15,378 in Greater London across the same period.

The report, which looks at fees across the UK, points out that the UK average fee of £12,864 per year is now equivalent to 38 per cent of annual average gross full-time earnings of £ 34,015.

In 2010, the average fee was only 33 per cent of average gross full-time earnings.

Sarah Deaves, private banking director at Lloyds Bank, said: “With the average cost of sending a child to private school now almost £13,000 annually, it is more important than ever that parents start to think about their finances and plan ahead.

“This will help to ensure that they can provide the education they desire for their children over the course of their school lives.”

John Edward, director of the Scottish Council of Independent Schools, added: “Independent schools in Scotland are sensitive to the sacrifices that many parents make in order to afford school fees and strive to do their upmost to deliver the best for their children and young people in a climate where fixed costs like salaries, pensions and utilities are going up all the time.”