394 Distribution when dividend shares cease to be subject to SIP
Income Tax (Trading and Other Income) Act 2005 (2005 c 5) | Legislation

394  Distribution when dividend shares cease to be subject to SIP

(1)     This section applies if dividend shares cease to be subject to [a Schedule 2] share incentive plan before the end of the period of 3 years beginning with the date on which the shares were acquired on the participant's behalf.

(2)     For income tax purposes a distribution is treated as made to the participant in the tax year in which the shares cease to be subject to the plan.

(3)     The amount of the distribution treated as made is the amount

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