Dear all,
My firm will reimburse third year tuition fees to an employee. His course is work related under ITEPA2003. He is curently working for us during his gap year and will still be payrolled by us via a small monthly retainer whilst he completes year 3. I understand there are no tax consequences.
However, we want to reimburse the fees direct to his student loan account after he returns, paying a sum per month, say £300, into his student finance account. The intention is that we will do this for as long as he's employed by us and up to the limit of £9,000 for the year 3 charges. Thus if he leaves for another employer we won't have stumpted up a load of money for nothing.
Do you think the payments will still continue to be tax-free for him, and be a deductible expense for us?
Thanks and regards,
Dave-A
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