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Does anyone have any experience with setting up a loan out company for tax purposes on your child`s income. Any info would be greatly appreciated

Don't know what u mean? Do u mean paying tax on childrens earnings? Or getting a loan on child earnings? I no children have the same tax allance as we do but u can clam for a lot of things travel cloths hair cuts phone bills so usaly don't have to pay much. If u want to get a loan onyr childs earnings then don't think u would be able to do that

its something to do with setting up a limited company that handles all income the child earns and expenditure. So for example, a film production company would pay child through that company. In the business they call it "loan out". I`m trying to find info about it as my son has a film job abroad and will be paid in foreign money. Apparantly many actors have these sort of loan out companies if they work in foreign countries to get around foreign tax laws etc. I did hear that all receipts that can be offset against tax, chaperone fee for parents and all other income and expenditure relating to childrens performing work can be dealt with via the limited company and it can save a whole load of money. I just need more info from someone whos gone down that route...in other words is it really worth it?

Isn't that something that is only really applicable in the US?

In the UK you can claim for the same things if you are self-employed as employed and with regards to national insurance it can work out better to be self employed.

Limited companies are only really of any use if you want to protect your personal assets if you happen to go bankrupt.

There is a form u can get to take out with u that states that yr ds will pay tax over her u can get it from the tax office or agent should be able to tell u about it so u only pay tax in uk. My oldest ds did an advert in Germany and a lot of the money was taken offin tax before agent even saw it so was told next time to get form to take out with us hope that helps.