University sponsorship

[ReedMace]

Does anyone know what the legal and tax implications are for my v small company sponsoring my son by paying his university fees? His course is in the same area of work as that undertaken by the company.

ReedMace

 

[Wholesale-Suppliers]

No, may be you should contact the university

 

[gordano]

Check with the accountcy experts. I recall something similar before, if I remember correctly you will be liable for tax on the "sponsorhip" fees you pay to a family member.

Analternative maybe to employ your son ... they could work for you part time and get paid an appropriate amount. Again you need to check with the accountancy experts.