Commentary

E1.574 Amounts applied by SIP trustees acquiring dividend shares or retained for reinvestment

Personal and employment tax

E1.574 Amounts applied by SIP trustees acquiring dividend shares or retained for reinvestment

Approved share incentive plan distributions

E1.574 Amounts applied by SIP trustees acquiring dividend shares or retained for reinvestment

If shares are awarded to a participant under a Schedule 2 share incentive plan (SIP) and the relevant condition in ITTOIA 2005, s 392 is met at the time that the shares in question are awarded, no liability to tax arises in respect of the amount applied by the trustees in acquiring dividend shares on behalf of the participants or on any amount retained in respect of dividends not reinvested1. The exemption does not apply if the main purpose, or one

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