Hi,

I'm a 37 year old married father of four and have managed to secure some funding to take a year off work to study an MSc. I mention the kids, as to do this course I need substantially more funding than the average student.

I have now secured £30k sponsorship from a third party, i.e. not my current employer, and they are happy to provide this with no requirement for me to work beyond the study period, however would own any work that I produce during this year, and the Uni have agreed to this.

The sponsoring company has asked me to look into taxation on this sum, I've called the Inland Revenue, but couldn't get a straight answer, has anyone any experience of above average sponsorship and how the Government class this in the case of tax? or any other advise? All would be gratefully received.

If more detail is required, please get back to me and I’ll endeavour to provide it.

Regards,

Dave