Maybe I used the wrong term. I MEANT to say 'watch out for the benefit in kind' which may be accrued if you are the director of the company you set up with the purpose (non exclusive) of getting VAT back on training, etc
Here is the (original) exhaustive reply
I have therefore, put my argument in writting and suggested that there is in fact no chargeable benefit in kind as you pay a suitable fee and that it would be equitable to grant a dispensation from completing forms P11D...... Also, we need to discuss the potential benefit if the Company pays for your flying training. I believe that you will be taxable, but the Company will be entitled to tax relief on employee costs.
There being no employee costs, there would have been no relief. However I note the use of the P11D word in my accountants reply.
He may be taking twaddle. If so I would be interested to hear ...