student living maintenance

When paying to support a student at university is there anyway to make it more tax efficient?

Comments

  • eskbanker
    eskbanker Posts: 29,817
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    What tax (and whose) would be relevant here?
  • SiliconChip
    SiliconChip Posts: 1,266
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    It used to be possible to make a notional saving on income tax. When I went to university in 1978 my dad wrote a Deed of Covenant that allowed the payment he made to me to have the tax that he would have paid on that sum to be added to it, meaning to get a specific net sum to me he had to pay a smaller amount from his post-tax wages (at least, I think that's how it worked the memory is a bit hazy 45 years later!). As I understand it this option was removed in the 1990s.
  • Ferro
    Ferro Posts: 100
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    It used to be possible to make a notional saving on income tax. When I went to university in 1978 my dad wrote a Deed of Covenant that allowed the payment he made to me to have the tax that he would have paid on that sum to be added to it, meaning to get a specific net sum to me he had to pay a smaller amount from his post-tax wages (at least, I think that's how it worked the memory is a bit hazy 45 years later!). As I understand it this option was removed in the 1990s.
    Remember it well and ‘benefitted’ from it myself. 

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