Part 4

Savings and investment income
Chapter 3
Dividends etc. from UK resident companies
and tax
treated as paid
in respect of certain distributions

Shares in Schedule 2 share incentive plans (“SIPs”)

Interpretation of sections 392 to 395
396
1
This section and sections 392 to 395 form part of the SIP code (see section 488 of ITEPA 2003 ( ... share incentive plans)).
2
Accordingly, expressions used in this section or those sections and contained in the index in paragraph 100 of Schedule 2 to that Act ( ... share incentive plans) have the meaning indicated by that index.
3
In particular—
a
for the meaning of “award of shares” see paragraph 5(1) of that Schedule,
b
for the meaning of “ceasing to be subject to plan” see paragraph 97 of that Schedule,
c
for the meaning of “dividend shares” see paragraph 62(3)(b) of that Schedule,
d
for the meaning of “employment requirement” see paragraph 15(3) of that Schedule,
e
for the meaning of “participant” see paragraph 5(4) of that Schedule,
f
for the meaning of “plan shares” see paragraphs 86 to 88 and 99(1) of that Schedule, and
g
for the meaning of “shares” see paragraphs 87(6) and 99(2) of that Schedule.
Words in Pt. 4 Ch. 3 heading substituted (with effect in accordance with Sch. 1 para. 73 of the amending Act) by Finance Act 2016 (c. 24), Sch. 1 para. 3
Word in s. 396(2) omitted (6.4.2014) by virtue of Finance Act 2014 (c. 26), Sch. 8 paras. 59, 89 (with Sch. 8 paras. 90-96)
Words in s. 392 cross-heading substituted (6.4.2014) by Finance Act 2014 (c. 26), Sch. 8 paras. 55, 89 (with Sch. 8 paras. 90-96)
Words in Pt. 4 Ch. 3 heading substituted (with effect in accordance with s. 34(2) of the amending Act) by Finance Act 2008 (c. 9), Sch. 12 para. 2
Word in s. 396(1) omitted (6.4.2014) by virtue of Finance Act 2014 (c. 26), Sch. 8 paras. 59, 89 (with Sch. 8 paras. 90-96)