Limit on amount reinvestedU.K.
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.