To whom does the income arise?

ITTOIA05/S409 charges ‘stock dividend income’ to tax.

Under ITTOIA05/S410 the income is treated as arising to, depending on circumstances

an individual who is beneficially entitled to the share capital,

trustees of accumulation and discretionary trusts, to whose income ITA07/S480 applies, or

personal representatives.

The income arises on the earliest date the company is required to issue the share capital in question.

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