Tide launches UK’s first connected payroll and dividends solution for SMEs

Tide, the UK’s leading business management platform, today 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 themselves smartly: Pay a combination of salary and dividends to extract money from their business.
• Automate compliance: Instantly generate necessary legal documents, including HMRC-ready dividend vouchers and board resolutions.
• Unified workflow: Execute dividend payments and track historical payments, alongside their payroll and banking in one place.

Elliott Steer from Spectrum Antiques, a Tide member, said: “As a small, family-run business, it’s been incredibly helpful having Tide as our bank, especially with everything managed in one app. The Payroll tool has saved us a lot of time and effort – onboarding staff is straightforward, and the clear interface means I can easily handle wages and expenses. Tide Payroll has made a real difference to how we manage our team and gives me confidence that everything is running smoothly.”

George Schmidt, UK/Europe CEO at Tide, said: “Running a business should be about growth, not admin. Following the success of our payroll launch, we are proud to be the only provider in the UK offering a truly seamless solution for both salary and dividends. 

“By integrating these essential payments directly with banking and accounting, we’re removing the final hurdle of director’s pay, freeing up valuable time for our members to focus on what matters most.”

The Dividends boost is designed as a seamless add-on for members already using Tide’s payroll services. For just an additional £5 per month (+ VAT), directors can integrate this feature alongside Tide Payroll, which is available from £12 per month (+ VAT) for up to two team members.