Section 998 | Withdrawal of deductions if share incentive plan ceases to be a Schedule 2 share incentive plan

(1)This section applies if—

(a)a deduction is made by a company under section 987, 989, 991, 994 or 995 in relation to a Schedule 2 share incentive plan, and

(b)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(2)An officer of Revenue and Customs may by notice direct that the deduction is withdrawn.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.