http://www.legislation.gov.uk/ukpga/2003/1/section/496/enacted
Income Tax (Earnings and Pensions) Act 2003
Temporary employment
King's Printer of Acts of Parliament
2021-08-04
Income Tax (Earnings and Pensions) Act 2003
s. 452(2)(aa)
Finance Act 2013
Sch. 23
para. 11
Sch. 23
para. 38
art. 2
Income Tax (Earnings and Pensions) Act 2003
s. 707A
Finance Act 2024
s. 36(4)
s. 36(5)
Part 7Employment income: share-related income and exemptions
Chapter 6Approved share incentive plans
Tax advantages connected with holding of shares
496No charge on cash dividend retained for reinvestment
1
A participant is not liable to income tax in respect of an amount retained under paragraph 68(2) of Schedule 2 (amount of cash dividend not reinvested).
2
The participant has no entitlement to a tax credit in respect of an amount so retained.
3
This section does not affect any charge under—
a
section 68B(1) or 251B(1) of ICTA (charge under Case V of Schedule D or Schedule F where cash dividend retained and then later paid out), or
b
section 68B(2) or 251C(1) of ICTA (charge under Case V of Schedule D or Schedule F on dividend shares ceasing to be subject to plan),
or affect any tax credit in respect of an amount so charged.