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Can my ltd co sponsor my daughter in-lieu of EMA?

Can my ltd co sponsor my daughter in-lieu of EMA?

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I realise that this is unlikely to be tax deductible from the company point of view. That's fair enough, however I need to know if doing so would impact my "deemed salary" as this would affect my tax credits.

Thanks for any opinions,

Will

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By mickey09
04th Jan 2012 15:00

Benefit in Kind

HMRC might argue that this represents a benefit in kind taxable upon you as a director. Here is a link to their Employment Income Manual EIM30001 http://www.hmrc.gov.uk/manuals/eimanual/EIM30001.htm

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