Section 987 | Deduction for costs of setting up a Schedule 2 share incentive plan

(1)This section applies if a company incurs expenses in setting up a share incentive plan that is a Schedule 2 share incentive plan.^F1

(2)A deduction for the expenses is allowed to the company.

(3)Repealed^F2

(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.^F3

(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.^F4

(5)No other deduction is allowed in respect of expenses for which a deduction is allowed under this section.