Part 7

Employment income: income and exemptions relating to securities
Chapter 6

... share incentive plans

Tax advantages connected with award of shares

No charge on acquisition of dividend shares
493
1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3
Section 1105(3) of CTA 2010 (information relating to distributions to be provided by nominee) does not apply to any amount applied by the trustees in acquiring dividend shares on behalf of a participant.
3A
For the exemption of such amounts from income tax, see section 770 of
ITTOIA
2005 (amounts applied by
SIP
trustees acquiring dividend shares or retained for reinvestment).
4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5
Subsection (3) is subject to paragraph 80(4)(c) of Schedule 2 (information required where dividend shares cease to be subject to plan).
Pt. 7: power to modify conferred (7.4.2005) by Finance Act 2005 (c. 7), s. 21(8)-(10)
S. 493(3A) inserted (6.4.2005) by Income Tax (Trading and Other Income) Act 2005 (c. 5), s. 883(1), Sch. 1 para. 600(3) (with Sch. 2)
S. 493(4) repealed (6.4.2005) by Income Tax (Trading and Other Income) Act 2005 (c. 5), s. 883(1), Sch. 1 para. 600(2), Sch. 3 (with Sch. 2)
Words in s. 493(3) substituted (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 1 para. 391 (with Sch. 2)
S. 493(1)(2) repealed (6.4.2005) by Income Tax (Trading and Other Income) Act 2005 (c. 5), s. 883(1), Sch. 1 para. 600(2), Sch. 3 (with Sch. 2)
Pt. 7 heading substituted (with effect in accordance with Sch. 22 para. 2(2) of the amending Act) by Finance Act 2003 (c. 14), Sch. 22 para. 2(1)
Word in Pt. 7 Ch. 6 title omitted (6.4.2014) by virtue of Finance Act 2014 (c. 26), Sch. 8 paras. 2, 89 (with Sch. 8 paras. 90-96)