The Foreign Office said it would "consider how to support any application for judicial review or clemency" that Lindsay Sandiford makes after she lost her appeal against a death sentence for drug trafficking.
A Foreign and Commonwealth Office spokesman said: "We are aware that Lindsay Sandiford's appeal to the Indonesian Supreme Court has been denied.
"We will continue to provide consular assistance to Lindsay Sandiford and her family at this difficult time."
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The founder of a free school and two ex-staff members have been jailed for defrauding the Department for Education of thousands of pounds.
Pino Pagliara told ITV News a lucrative salary meant he told undercover reporters posing as football investors "what they wanted to hear".
She was best known for playing Ethel Meaker in the children's show Rentaghost and Grandma on stage in Billy Elliot the musical.