A reminder that the way dividends are taxed is changing from 6 April 2016. For more information see our Dividends Tax fact sheet. For some it may be advantageous to increase dividends prior to the changes. For example if dividend levels are projected to be similar in 2015/16 and 2016/17 it may be beneficial to vote more dividends before 5 April 2016 (assuming retained reserves allow this). However it may be better to defer some dividends until after 5 April 2016. For example a higher rate tax payer could pay no tax on the first £5,000 of dividends in 2016/17 but might pay 25% tax on the same dividends if taken in 2015/16.
To discuss your specific circumstances please contact us.