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for your benefit
Arguably it is ultimately for her benefit as, being our only child, she will inherit it some day.
Personally I don't think HMRC will worry too much about a single child's PB allowance being (ab)used. It's a small percentage of a larger sum that would be invested in other "completely legitimate" schemes that are tax efficient in other ways.
Greenbank
Yes agreed but I suppose I was thinking about how the indirect implications of your plan might look, in that by placing the money in that non-taxable environment for your benefit and in excess of the benefit which the law entitles you to as an individual, you are avoiding the alternative which would be to place the money in an investment which would potentially be subject to tax hence why HMRC could view it as improper