The UK Government is proposing sweeping reforms to the provision of education for children with Special Education Needs and Disabilities (SEND) in England. Overall, the reforms aim to bring rising SEND costs under control. For the independent sector, two areas, in particular, will be of concern. First, that by 2035, Education Health and Care Plans (EHCPs), the legal documents setting out SEND entitlements, will only be issued for pupils with the most complex special educational needs. Second, the proposed introduction of price restrictions for independent special schools. These planned changes will undoubtedly impact the independent sector, which has historically provided the most complex SEND placements. In this paper, Marwood examines the key proposed reforms, focusing on what they are likely to mean for the independent sector’s SEND provision. Assessing the impact of potential changes on independent sector involvement in SEND education is essential for investors.