# Income Tax (Earnings and Pensions) Act 2003, Section 493: No charge on acquisition of dividend shares

Extent: E+W+S+N.I.

(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(3) Section 1105(3) of CTA 2010 (information relating to distributions to be provided by nominee) does not apply to any amount applied by the trustees in acquiring dividend shares on behalf of a participant.
(3A) For the exemption of such amounts from income tax, see section 770 of ITTOIA 2005 (amounts applied by SIP trustees acquiring dividend shares or retained for reinvestment).
(4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(5) Subsection (3) is subject to paragraph 80(4)(c) of Schedule 2 (information required where dividend shares cease to be subject to plan).

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Source: https://www.legislation.gov.uk/ukpga/2003/1/section/493 (the official version)
Page: https://openlegislation.uk/income-tax-earnings-and-pensions-act-2003/section-493
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.