Paying tuition fees without paying tax

Chris Plumber · 2004-02-12T07:42:12+00:00

Can anyone give a financial lamer some basic advise.. My son is going to start university in approx 1 1/2 years. I currently make a little "extra cash" from a small web site (not a registered business - more of a hobby). The money comes in the form of quarterly cheques from the internet book shop "". I'd like to be able to arrange that these funds are paid directly to my son while he as at University so that I dont have to pay 40% tax on them first. The question is - does the UK tax system allow me claim that the money is not mine if I arrange for the cheques to be paid directly to my son? Or is there some better way of obtaining the same result by other means.

Feb 12, 2004 21 Replies

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Tumbleweed 22 years ago

Presumably at some point it moves from CGT to income, if I keep buying and selling?

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Thom 22 years ago

Yes (assuming you make any profit). I'm not sure how they assess it, but I'd guess it would have to be your main income.

Thom

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