C1Part 11Relief for particular employee share acquisition schemes
Annotations:
Modifications etc. (not altering text)
Chapter 1Share incentive plans
F3Plan ceasing to be a Schedule 2 SIP
Annotations:
Amendments (Textual)
F3
S. 998 cross-heading substituted (6.4.2014) by Finance Act 2014 (c. 26), Sch. 8 paras. 82, 89 (with Sch. 8 paras. 90-96)
998Withdrawal of deductions if F4share incentive plan ceases to be a Schedule 2 share incentive plan
1
This section applies if—
a
F5b
by virtue of paragraph 81H or 81I of Schedule 2 to ITEPA 2003 the plan is not to be a Schedule 2 share incentive plan.
2
An officer of Revenue and Customs may by notice direct that the deduction is withdrawn.
3
If a direction is made, the company is treated as receiving an amount equal to the deduction.
4
The amount is treated as received when the direction is made.
Pt. 11 applied by 2010 c. 8, s. 425(1) (as inserted (with effect in accordance with Sch. 5 para. 25(1)-(3) of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 5 para. 1 (with Sch. 5 paras. 27, 32-34))