Tide, a UK leading business management platform, has announced the launch of its new Dividends boost, making it the first connected bank account in the UK to offer both payroll and dividends within the same platform.
This new feature is specifically designed to support the significant portion of the UK’s entrepreneurial landscape that operates as single-director companies, as well as SMEs with employees or teams. Recent Tide analysis shows that around 80% of new businesses formed in the UK are single-director entities, a demographic that often faces a complex administrative burden when trying to pay themselves efficiently. The majority of Limited Company directors in the UK utilise a combination of salary and dividends to maximise their tax efficiency.
The Dividends boost follows the successful introduction of Tide Payroll, which was established after Tide’s acquisition of the HMRC-recognised SME payroll solution, OnFolk, in October 2024. By bringing the OnFolk team and their specialised platform into the Tide ecosystem, Tide Payroll, allowing members to manage staff wages, pensions and accounting integrations directly within the app.
While Tide Payroll has been active and supporting members since its initial rollout, the addition of the Dividends boost completes the financial workflow for directors, enabling them to handle both salary, team and dividend payments in a single, unified interface.
Tide’s integrated solution of payroll and dividends now allows directors to:
- Pay a combination of salary and dividends to extract money from their business
- Instantly generate necessary legal documents
- Execute dividend payments and track historical payments.
