Section 94A | Costs of setting up SAYE option scheme or CSOP scheme ^F1

(1)This section applies if—^F1

(a)a company incurs expenses in setting up a scheme within subsection (2) ... and^F1F2

(b)Repealed^F3F1

(2)The schemes within this subsection are—^F1F4

(a)Schedule 3 SAYE option schemes within the meaning of the SAYE code (see section 516(4) of ITEPA 2003), and^F1F5

(b)Schedule 4 CSOP schemes within the meaning of the CSOP code (see section 521(4) of ITEPA 2003).^F1F6

...

(3)A deduction for the expenses is to be made in calculating the profits of a trade carried on by the company.^F1

(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 .^F1F7

(4A)In subsection (4) “the relevant date”—^F1F8

(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^F1F8

(b)in relation to a Schedule 4 CSOP scheme, has the meaning given in paragraph 28A(6) of Schedule 4 to ITEPA 2003.^F1F8

(5)But subsection (4) does not apply in calculating the profits of a trade on the cash basis.^F1F9