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Summer budget and dividends

27-July-2015

The summer budget had some nasty surprises for small companies. If your company pays dividends and you are a basic rate taxpayer but don't use up all your basic rate band, then consider taking additional dividends before 6th April 2016. These dividends don't need to be paid but you do need to have sufficient reserves and prepare the correct vouchers, dividend minutes and make the entry in your books and records.