SCHEDULE 4AAShare incentive plans: corporation tax deductions
Application of provisions to expenses of management of companies with investment business etc
13
F1(1)
The provisions of this Schedule apply in relation to—
(a)
companies with investment business, and
(b)
companies in relation to which section 76 applies (expenses of insurance companies),
in accordance with the following provisions.
(2)
The provisions of this Schedule which allow a deduction in calculating the profits of a trade apply—
(a)
in relation to a company with investment business, to treat amounts as expenses of management, and
(b)
in relation to companies in relation to which section 76 applies, to treat amounts as expenses payable falling to be brought into account at Step 1 in section 76(7).
(3)
Paragraph 11(2) applies as if the reference to a trading receipt for the period of account in which the Inland Revenue give notice of the withdrawal of approval were a reference to profits or gains chargeable to tax under Case VI of Schedule D arising when the Inland Revenue give notice of the withdrawal.