Daughter going abroad to study

[taxadvisor]

Any ideas on a Tax effective way of paying money to my daughter (24 yrs) who has given up work to go and study in the UK for 3 yrs. I am a company director.

 

[ARCH]

CAn you employ your daughter in your business during her holidays??

 

[bazermc]

You can pay her €3000 a year gift tax free
Your wife could also pay her €3000 a year tax free
therefore total €18K
any amount over that amount will eat into her tax free threshold if not already used up
I agree with employement during summer just make sure she actualy does work maybe make her a director and wages are not excessive

 

[taxadvisor]

Thanks folks,

Sorry for the delay in acknowledging.

 

[liteweight]

You can pay her €3000 a year gift tax free
Your wife could also pay her €3000 a year tax free
therefore total €18K

3k plus 3k = 18k???

 

[Hedger]

6k a year for 3 years = 18k

 

[bazermc]

I can see some people still have trouble doing maths in their head

 

[liteweight]

I can see some people still have trouble doing maths in their head

No I'm good at doing maths in my head...it's the eyesight I'm worried about. In fairness though, you didn't say 3K + 3K a year over 3 years in your post...or did you? hmmmm