Investing money from company for kids

[chrisl]

If i have a limited company earning over £100k per year, is there anything i can do with this money to support my kids so it doesnt have to go to me as income.

My kids will be going to university soon and i want to support them in their studies.

So i was just wondering if anyone knows of any tax saving options or tips to get the money out of the limited company to them without it going via my own income first?

[Scrag Meister]

If i have a limited company earning over £100k per year, is there anything i can do with this money to support my kids so it doesnt have to go to me as income.

My kids will be going to university soon and i want to support them in their studies.

So i was just wondering if anyone knows of any tax saving options or tips to get the money out of the limited company to them without it going via my own income first?

And then they give it straight back to you once they have it, what a great idea, wish I'd thought of that!

[Platypus]

If i have a limited company earning over £100k per year, is there anything i can do with this money to support my kids so it doesnt have to go to me as income.

My kids will be going to university soon and i want to support them in their studies.

So i was just wondering if anyone knows of any tax saving options or tips to get the money out of the limited company to them without it going via my own income first?

Put the kids on the payroll (summer jobs?) pay them approx £5k per tax year, means no employers' NI for you and no tax or NI for them (assuming they have no other sources of income). However: make sure they do some work to justify their being paid, and make sure the money goes to them and stays with them (i.e. it does not accidentally end up in your back account = tax evasion).

[THEPUMA]

Put the kids on the payroll (summer jobs?) pay them approx £5k per tax year, means no employers' NI for you and no tax or NI for them (assuming they have no other sources of income). However: make sure they do some work to justify their being paid, and make sure the money goes to them and stays with them (i.e. it does not accidentally end up in your back account = tax evasion).

Making them shareholders and paying them dividends is a possibility, albeit there are complications as they will become shareholders with all the intrinsic rights that entails.

If you are a trusting family it can work though.

Puma