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I have a full time day job, income taxed at the 40% rate. I have an option to do some additional part time work generating a few hundreds of pounds, which I would like my student daughter to have the benefit of. If I do the work but the invoice goes from my daughter and the money is put in her bank account, without my having access to it, will it be part of her taxable income, not mine?
That is clear, thank you; and that is what I will do. However, my original question was 'How can I'; not 'Can I'. People - perhaps in the very high net worth category - seem to have mechanisms such as tax-efficient trusts and I had hoped you might suggest some optional soultions.