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

[WTFH]

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.

[TheCyclingProgrammer]

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.

[b0redom]

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?

[kaiser78]

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.

[mudskipper]

Yes.

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

[SueEllen]

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.

[stek]

And the prize for the stupidest question of the day goes to...

I'm not one to take the piss but it truly was!

Actually I am one to take the piss, aren't I?

[SlipTheJab]

And the prize for the stupidest question of the day goes to...

[stek]

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?

Hahahahahahaha!!!

[WTFH]

It should be, and then you should also be allowed to expense family holidays during term time, since it affects the performance of their teachers and the rest of the class.


...in other words, no.

[Fred Bloggs]

The answer is - No.

[northernladuk]

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?

What one earth makes you think just because you can put life insurance through the company it means you can put school fees through?

When you say life insurance you do mean a relevant life policy don't you?

[Alan @ BroomeAffinity]

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

I can just imagine the reaction to the general public who can't afford private education if the privileged got this particular tax break. Even the Bullingdon Club Alumni currently in power wouldn't allow this.

[adam42]

I can well imagine boarding school fees being paid by the company that sent their employee abroad somewhere. However I don't always expect the logic of a tax and accounts situation to follow the theory, hence my question.

[eek]

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?

What do you think.

Health Insurance is about keeping the company functional when things happen.
Life Assurance is about keeping the company functional when the worst happens.

School Fees are a benefit to your children and by definition yourself so would definitely be a benefit in kind...