Pay yourself a dividend and keep some of your money away from George Osborne

Shareholders have a one-off opportunity to save tax but they only have until 5 April 2016 to do so.

George Osborne's attack on the small business sector has given shareholders a chance to withdraw money from their company by paying themselves dividends and avoiding the extra 7.5% tax which will be payable from 6 April 2016 onwards.

Scott-Moncrieff, a firm of accountants in Edinburgh, have discovered that more than a quarter (28%) of SME owners across the UK are planning to pay themselves a special dividend ahead of the forthcoming tax hikes in April. Worryingly though, in Scotland, the number of OMBs planning a pre-April payout is just 3%.
So, rather than risk insulting the Scottish by mentioning mistaken thriftiness, my advice is dig deep and pay yourself a dividend to stop Osborne taking 7.5% in extra tax next year.

P.S. As always make sure you do your calculations properly before you withdraw the money.

Days to January 31st