Income Tax (Trading and Other Income) Act 2005 section 396

Interpretation of sections 392 to 395

Section 396 provides definitions and interpretation guidance for the Share Incentive Plan (SIP) provisions contained in sections 392 to 395.

  • Sections 392 to 396 form part of the wider SIP code established under section 488 of the Income Tax (Earnings and Pensions) Act 2003
  • Technical terms used in these sections take their meanings from the index in paragraph 100 of Schedule 2 to ITEPA 2003
  • Key defined terms include "award of shares", "dividend shares", "plan shares", "participant", and "ceasing to be subject to plan"
  • The section ensures consistent interpretation across both the ITTOIA 2005 SIP dividend provisions and the main ITEPA 2003 SIP legislation

Access full legislation.And much more.

By becoming a member, your team gets full access to Tax World research tools and source-backed tax resources.

Become a member