A dividend forms part of the recipient's total income, notwithstanding that the price paid for the shares in respect of which the dividend is declared was enhanced by reason of the shares being purchased cum dividend1; and, where there is a sale by a vendor of shares or securities cum dividend, or interest, no part of the purchase price is income in the vendor's hands2. On a sale of shares ex dividend, the dividend when declared is the vendor's income; and, if the purchaser actually receives the dividend, he is trustee of it for the vendor
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and millions of others like it, sign-in to LexisLibrary or register for a free trial.
EXISTING USER? SIGN IN
TAKE A FREE TRIAL
0330 161 1234