The Lemon Fool

I am in the very fortunate position of making too much profit already this year, so I need to do some early tax planning (for my wife and I).

DAK if there is a spreadsheet anywhere that let's you play with figures for profit, salary, dividends etc and find the sweet spot?

I can see this tool: http://www.itcontracting.com/calculator ... alculator/ but I really want to edit it to take account of our different salaries and divided amounts, then balance against corporation tax and other options. I may build one from scratch but if there's a starter for ten out there then it would be very helpful.

Also, I am looking at the following routes for tax efficiency:

- balancing our salary/dividends
- direct pension payments
- relevant-life insurance policy
- buying IT and other kit
- other claimable expenses (mileage, home office, overnight expenses, etc)
- pushing off contracts to our new FY (Jan'18)
- (no need for other staff, marketing or assets)

Am I missing any other ways?

Incidentally, there is this description of the sweet spot in basic terms:

http://jf-financial.co.uk/2017/01/12/op ... ds-201718/

Our situation is slightly different as my wife and I have different income from inside/outside the business.

(I'm guessing I might need to build my own sheet from scratch)

I've had the same dilemma this year, and it can be quite tricky to perfectly optimise your dividends/salary/other tax benefits. It will be even worse this year, as the dividend allowance drops to £2k I like to play around with the sliders on this dividend calculator (sorry not allowed to post link):

income-tax.co.uk/dividend-tax-calculator

...to see how the net take-home value is changing, it's quite useful. You can also add childcare vouchers, pension contributions and benefits in kind, pretty cool stuff.

I hope it helps.

That's wonderful. You absolute star!

It calculates the tax payable on the dividend of one person's holding shares of the company. While calculating corporation tax, business expenses of dividends can not be made.
Source:- DNS Accountants