Part 11

Relief for particular employee share acquisition schemes
Chapter 1

Share incentive plans

Deductions relating to setting up and running costs

Deduction for costs of setting up a Schedule 2 share incentive plan
987
1
This section applies if a company incurs expenses in setting up a share incentive plan that is a Schedule 2 share incentive plan.
2
A deduction for the expenses is allowed to the company.
3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4
If the relevant date falls more than 9 months after the end of the period of account in which the expenses are incurred, the deduction is allowed for the period of account in which the relevant date falls.
4A
In subsection (4) “
the relevant date
”, in relation to a share incentive plan, has the meaning given in paragraph 81A(6) of Schedule 2 to
ITEPA
2003.
5
No other deduction is allowed in respect of expenses for which a deduction is allowed under this section.
Words in s. 987 heading substituted (6.4.2014) by Finance Act 2014 (c. 26), Sch. 8 paras. 76(2), 89 (with Sch. 8 paras. 90-96)
Words in s. 987(1) substituted (6.4.2014) by Finance Act 2014 (c. 26), Sch. 8 paras. 76(3), 89 (with Sch. 8 paras. 90-96)
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))
Words in s. 987(4) substituted (6.4.2014) by Finance Act 2014 (c. 26), Sch. 8 paras. 76(5), 89 (with Sch. 8 paras. 90-96)
S. 987(4A) inserted (6.4.2014) by Finance Act 2014 (c. 26), Sch. 8 paras. 76(6), 89 (with Sch. 8 paras. 90-96)
S. 987(3) omitted (6.4.2014) by virtue of Finance Act 2014 (c. 26), Sch. 8 paras. 76(4), 89 (with Sch. 8 paras. 90-96)