Wealth Protection Report

The Best Way to Extract Profits TaxCalc

This calculator allows you to calculate the tax effects of your extraction of profit decisions. It is only applicable to a UK company and UK resident individual and allows you to see the effect on your personal and company tax bill of extracting cash from a company as salary/bonus or dividends.

Enter your company profits in the first page (maximum profits of £1,500,000). The next spreadsheet (click on the 'full profit extraction' tab) will then calculate the tax charge on the basis of either:

A full extraction of profits as salary, or
A full extraction of profits as dividends.

In some cases you may not want to extract the full profits. In this case enter the amount of profits you want to extract in the second box on the home page and the next spreadsheet (click on the 'partial profit extraction' tab) will calculate the tax charges if you take cash as salary or as dividends. Other relevant figures such as the retained cash in the company and effective tax rate are also given.

Here's a screenshot from the calculator

taxcalc

To use 'The Best Way to Extract Profits Tax Calculator' click here

Member Area
Ask a Tax Question
Click Here To Submit Tax Question
- Latest Tax Schemes & Structuring Opportunities
  
  Reducing SDLT: 2 key SDLT planning principles
  07/11/2021
  SDLT is charged on the total purchase price for a land transaction. This will generally include the price paid for the land and for any buildings on it. In this Practitioner Zone article we look at two key SDLT planning ideas...keep reading
  New: Contractors tax planning structure
  This solution allows UK resident individual ("the contractor") to provide their services to one or more UK businesses ("the end users") via a trading trust ("the trust"). The contractor will be paid a fee by the trust (which will be subject to tax), but the trust can also provide other benefits to the contractor such as loans which should not be taxable....keep reading
  New: Alternative Business Funding
  Using a flexible SSAS structure it is possible to allow a pension fund to loan and invest into a business. This allows business owners to fund their businesses, allowing them to refinance debt, fund acquisition, expand or improve cashflow....keep reading
  New: Corporation tax planning structure
  16/03/2016
  This solution allows a UK trading company to reward one or more key employees with a discretionary bonus which suffers minimal PAYE and NIC and provides the company with a full corporation tax deduction. ....keep reading
  Reduce Inheritance Tax whilst retaining assets
  16/03/2016
  This arrangement allows a UK resident and domiciled individual ("the Client") to immediately reduce the value of their estate for inheritance ("IHT") purposes in such a way that it does not involve the transfer of any assets until after the Client's death....keep reading
  Structuring future UK property ownership by international investors - the position at at February 2016
  29/02/2016
  Given the multitude of different rules that apply to foreign investors looking to invest in UK residential property, in this Practitioner Zone article we look at the tax treatment of the different ownership options as at February 2016...keep reading
  Tax Planning for Property Investors/BTL Investors to exempt tax on income, CGT and IHT
  12/02/2016
  If you're a property/BTL investor holding property personally this tax planning solution uses an LLP to (1) reduce tax on rental income (2) achieve a CGT free property disposal (3) allows income to be accessed free of tax (4) provides for IHT efficiency. Practitioner Members only...keep reading
  Inheritance Tax - Gift & Leaseback Planning for the family home
  As the family home is the main asset many people have, ensuring that inheritance tax is minimised on its value will often be a key IHT planning requirement. In this Practitioner article we look at how a Gift & Leaseback can be used to reduce IHT...keep reading
  How to use "Double Irish" and "Double Irish Dutch Sandwich" structures in 2015
  In October the Irish Government released proposals that would result in Irish incorporated non-resident companies being classed as tax resident in Ireland beginning January 1, 2015. The goal is to shut down the use of so-called "Double Irish" and "Double Irish Dutch Sandwich" structures. In this Practitioner Zone article we look at the "Double Irish" and "Double Irish Dutch Sandwich" in detail including whether they can still be used...keep reading
  How UK residents can use a Mauritian company to avoid UK capital gains tax
  Using overseas companies to avoid UK capital gains tax is an established form of tax planning. Unfortunately if you wanted to use this technique to avoid CGT nowadays it's subject to numerous anti avoidance provisions. This article, exclusively for our Practitioner members, looks at one way to circumvent the anti avoidance rules....keep reading
Join Today
- Who Joins Us?
- Join Today For £1.00
Property Tax Planning
Upgrade
- Foreign tax/Practitioner Zone: Upgrade

Useful Links

Contact Us

WealthProtectionReport.co.uk
BCB Bachstrasse 12
Butschwil
CH-9606
Switzerland

Email: [email protected]

©2023 WealthProtectionReport.co.uk - BCB Bachstrasse 1, CH-9606 Butschwil, Switzerland. Email: [email protected] All Rights Reserved. Reproduction without permission prohibited.

Cookie Control