Version Superseded: 17/07/2013
Point in time view as at 13/06/2003.
Income Tax (Earnings and Pensions) Act 2003, Cross Heading: Limit on amount reinvested is up to date with all changes known to be in force on or before 09 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
64(1)The plan must provide that the total dividend reinvestment in respect of a participant must not exceed £1,500 in a tax year.U.K.
(2)For this purpose “the total dividend reinvestment” in respect of a participant is the sum of—
(a)the amount applied by the trustees in acquiring dividend shares on behalf of the participant under the plan, and
(b)the amount applied in acquiring dividend shares on behalf of the participant by the trustees of other approved SIPs that are established by the company or an associated company.
(3)If the amounts received by the trustees exceed the limit in sub-paragraph (1), the plan must provide for the balance to be paid over to the participant as soon as practicable.
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