Section 988 — Corporation Tax Act 2009: Deductions for running expenses of a Schedule 2 share incentive plan

Deductions for running expenses of a Schedule 2 share incentive plan 988 1 This section applies if a company incurs expenses in contributing to the expenses of the trustees in running a Schedule 2 share incentive plan.

2 This Chapter does not affect the deductions that, apart from this Chapter, are allowed to the company in relation to those expenses incurred by it.

3 For the purposes of this section expenses of the trustees in running a Schedule 2 share incentive plan do not include expenses incurred in acquiring shares for the purposes of the plan other than expenses within subsection (4).

4 The expenses within this subsection are—

a interest paid on money borrowed by the trustees for the purpose of acquiring the shares, and b any of the following—

i fees, ii commission, iii stamp duty, iv stamp duty reserve tax, and v other incidental costs similar to any mentioned in sub-paragraphs (i) to (iv).