Section 998 — Corporation Tax Act 2009: Withdrawal of deductions if share incentive plan ceases to be a Schedule 2 share incentive plan

Withdrawal of deductions if share incentive plan ceases to be a Schedule 2 share incentive plan 998 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2 An officer of Revenue and Customs may by notice direct that the deduction is withdrawn.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.