Hi I own a limited company that generates a small profit of around 20k pa operating as a communications consultancy. So would ordinarily expect to pay 19% of that to HMRC as corporation tax.
My daughter is a promising unsigned musician who's had major label and national press attention - basically to turn that into a chance of a decent offer, she will need to invest in marketing campaigns to 'prove' her market, build social media presence etc...
I'm aware that anything my company spend on Marketing it's products is essentially deductible from company profits and therefore corporation tax...so my question is, what's to stop my spending that 20k extra a year marketing my daughters music in return for an agreement for a share in any label deal she may sign in the future?
Thanks
Mike.
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