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school fees for offspring in any way a legitimate company expense?

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    #11
    Originally posted by adam42 View Post
    I was surprised to find out how I could put health insurance and life insurance through my ltd co, so I thought I would ask if it is also possible to pay school fees for my kids from the company?
    Before you post a question do a small bit of research.

    While I know you are thinking of families in the armed forces, if you did a quick google search you would have found that independent schools offer bursaries to families of such kids so they have reduced school fees.

    If you want to reduce the fees in that manner you need to find a school that offers bursaries and ensure your kids qualify.
    "You’re just a bad memory who doesn’t know when to go away" JR

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      #12
      Yes.

      You can put school fees or any other personal expense through your company, but it will be taxed as a benefit in kind.

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        #13
        Originally posted by adam42 View Post
        I was surprised to find out how I could put health insurance and life insurance through my ltd co, so I thought I would ask if it is also possible to pay school fees for my kids from the company?
        Relevant life cover only can be done through the company as an expense.
        ______________________
        Don't get mad...get even...

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          #14
          Originally posted by adam42 View Post
          I was surprised to find out how I could put health insurance and life insurance through my ltd co, so I thought I would ask if it is also possible to pay school fees for my kids from the company?
          You can put 'health insurance' as in BUPA etc through the company? Do you have a citation for that? I always thought that it was possible but incurred a BIK charge?
          And the lord said unto John; "come forth and receive eternal life." But John came fifth and won a toaster.

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            #15
            You can put what you like through the company, but in this case it would be treated as a BIK negating any corporation tax saving.

            I also thought health insurance was a BIK too tbh.

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              #16
              Here's a thought... If Tarquin and Shardonaay are 16+, put them as employees of your limited company. Then get the school to sign a contract with you for their education. They could then claim T&S for going to school each day.
              …Maybe we ain’t that young anymore

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