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Income Tax (Earnings and Pensions) Act 2003

Section 496: No charge on cash dividend retained for reinvestment

2034.This section is the last of three that deal with the tax advantages connected with the holding of shares. It provides that a participant is not liable to income tax in respect of the amount of a cash dividend that is not reinvested but is carried forward and held by the trust with a view to reinvestment at a later date. It derives from paragraph 91 of Schedule 8 to FA 2000.

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