Multiple Company Directorships - Salary Implications

[sinbadsailor]

I currently have a on-man software company, taking a salary.
I am launching a new product and am thinking of setting up an additional company around it, and would become director of that also.

What are my options for taking personal income from both companies, assuming the new one makes a profit?

I am assuming if I use all tax credit etc for company 1 then salary from company 2 would all be at higher rate, but I might be over-simplifying?

Would a holding company/group be a better option?

Thanks in advance

 

[Graham_07]

If all credits and SRCOP are used on company 1 then your income from company 2 would be at your marginal rate. There may be tax planning issues, pensions etc. which could be looked at and a discussion with your accountant would be worth while to review options.