I have a client who is interested in paying a bursary to their son at university. The client is a director of a Ltd company and I am interested to know if this can be legitimately paid as a company expense, or is this a form of income to the director. What are the tax implications to his son, is this exempt of tax as with a scholorship or would it be considered as an income? Also are their any other implications for the Ltd company?
Many thanks
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Think very similar questions re school fees have been asked in the last couple of months.