Tax efficient salary for 2015/16

[TheCyclingProgrammer]

I've updated my Google docs spreadsheet for the forthcoming tax year:
https://docs.google.com/spreadsheets...it?usp=sharing

This is a read-only shared link - can somebody confirm that you are able to create your own copy of it so you can edit it to your hearts content?

If so, you can plug in your own numbers and I've added support for two shareholders - simply enter the shareholding of the first shareholder and the second will be calculated automatically. No consideration is made for the existing income of the second shareholder, its simply assumed that the first shareholder (you) will want to take the maximum amount of salary/dividends up to the higher rate threshold and the second shareholder's dividends will be relative to the first shareholders (according to the shareholding).

This is useful as if you have more than one shareholder and want to maximise how much you extract from the company, you might not want to take the normal tax efficient salary (higher salary = less dividend income for you = less dividend income for the other shareholder).

Please let me know if there are any errors.

[jamesbrown]

Thanks for doing this each year - useful to many folks

ps. Yes, it can be copied and edited.

[TheFaQQer]

This is a read-only shared link - can somebody confirm that you are able to create your own copy of it so you can edit it to your hearts content?

Yep - works for me.

[TheCyclingProgrammer]

Glad it works!

[Pondlife]

Opens & downloads locally in MacOS Numbers. Saved as xlsx and formatting is fine.

[TheFaQQer]

One thing that would be a very nice to include would be to also set the second shareholder salary

[TheCyclingProgrammer]

One thing that would be a very nice to include would be to also set the second shareholder salary

Done, but it assumes it is within the personal tax threshold and untaxed (likewise no consideration is made for higher rate tax on the second shareholder's dividends, so just use this as a guide).

[TheFaQQer]

Done, but it assumes it is within the personal tax threshold and untaxed (likewise no consideration is made for higher rate tax on the second shareholder's dividends, so just use this as a guide).

Ta My Mrs earns the £5k NI threshold plus has dividends from the company, so trying to get that optimum number is what I'm after.

[Scruff]

This is extremely helpful, so thanks very much. I'm posting from my mobile in Cape Town so can't give the necessary thanks to you. Amazingly useful piece of work!

[arby]

Thanks for this most useful spreadsheet.

One request though - can you add a line for outside income? I have about £10K of net rental income per year and it would be nice to able to factor that into the different scenarios.