410 When stock dividend income arises
Income Tax (Trading and Other Income) Act 2005 (2005 c 5) | Legislation

410  When stock dividend income arises

[(1)     This section applies to—

(a)     share capital issued by a UK resident company in lieu of a cash dividend, and

(b)     bonus share capital issued by a UK resident company in respect of shares in the company of a qualifying class.

(1A)     For the purposes of subsection (1)(b), shares are of a qualifying class if—

(a)     shares of that class carry the right to receive bonus share capital

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