Section 987 — Corporation Tax Act 2009: Deduction for costs of setting up a Schedule 2 share incentive plan

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.