Part 2

Trading income
Chapter 5

Trade profits: rules allowing deductions
SAYE
option schemes,
CSOP
schemes

Costs of setting up SAYE option scheme or CSOP scheme
94A
1
This section applies if—
a
a company incurs expenses in setting up a scheme within subsection (2)
... and
b. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2
The schemes within this subsection are—
a
Schedule 3
SAYE
option schemes within the meaning of the
SAYE
code (see section 516(4) of
ITEPA
2003), and
b
Schedule 4
CSOP
schemes within the meaning of the
CSOP
code (see section 521(4) of
ITEPA
2003).
...
3
A deduction for the expenses is to be made in calculating the profits of a trade carried on by the company.
4
If the
relevant date falls
more than 9 months after the end of the period of account in which the expenses are incurred, for the purposes of subsection (3) the deduction is to be made for the period of account in which the
relevant date falls
.
4A
In subsection (4) “the relevant date”—
a
in relation to a Schedule 3
SAYE
option scheme, has the meaning given in paragraph 40A(6) of Schedule 3 to
ITEPA
2003, and
b
in relation to a Schedule 4
CSOP
scheme, has the meaning given in paragraph 28A(6) of Schedule 4 to
ITEPA
2003.
5
But subsection (4) does not apply in calculating the profits of a trade on the cash basis.
S. 94A(4A) inserted (6.4.2014) by Finance Act 2014 (c. 26), Sch. 8 paras. 140(5), 146 (with Sch. 8 paras. 147-157)
S. 94A(1)(b) and word omitted (6.4.2014) by virtue of Finance Act 2014 (c. 26), Sch. 8 paras. 140(2)(b), 146 (with Sch. 8 paras. 147-157)
Words in s. 94A(2) omitted (6.4.2014) by virtue of Finance Act 2014 (c. 26), Sch. 8 paras. 140(3)(c), 146 (with Sch. 8 paras. 147-157)
Words in s. 94A(2)(a) inserted (6.4.2014) by Finance Act 2014 (c. 26), Sch. 8 paras. 140(3)(a), 146 (with Sch. 8 paras. 147-157)
Words in s. 94A(1)(a) omitted (6.4.2014) by virtue of Finance Act 2014 (c. 26), Sch. 8 paras. 140(2)(a), 146 (with Sch. 8 paras. 147-157)
Words in s. 94A(4) substituted (6.4.2014) by Finance Act 2014 (c. 26), Sch. 8 paras. 140(4), 146 (with Sch. 8 paras. 147-157)
S. 94A and cross-heading inserted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 7 para. 28 (with Sch. 9 paras. 1-9, 22)
Words in s. 94A(2)(b) inserted (6.4.2014) by Finance Act 2014 (c. 26), Sch. 8 paras. 140(3)(b), 146 (with Sch. 8 paras. 147-157)
S. 94A(5) inserted (with effect in accordance with Sch. 4 paras. 56, 57 of the amending Act) by Finance Act 2013 (c. 29), Sch. 4 para. 17