Part 2Trading income

Chapter 5Trade profits: rules allowing deductions

F7SAYE option schemes, CSOP schemes

Annotations:
Amendments (Textual)
F7

S. 94A and cross-heading inserted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 7 para. 28 (with Sch. 9 paras. 1-9, 22)

94ACosts of setting up SAYE option scheme or CSOP scheme

1

This section applies if—

a

a company incurs expenses in setting up a scheme within subsection (2) F5... and

F2b

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

2

The schemes within this subsection are—

a

F4Schedule 3SAYE option schemes within the meaning of the SAYE code (see section 516(4) of ITEPA 2003), and

b

F8Schedule 4CSOP schemes within the meaning of the CSOP code (see section 521(4) of ITEPA 2003).

F3...

3

A deduction for the expenses is to be made in calculating the profits of a trade carried on by the company.

4

If the F6relevant date falls more than 9 months after the end of the period of account in which the expenses are incurred, for the purposes of subsection (3) the deduction is to be made for the period of account in which the F6relevant date falls .

F14A

In subsection (4) “the relevant date”—

a

in relation to a Schedule 3 SAYE option scheme, has the meaning given in paragraph 40A(6) of Schedule 3 to ITEPA 2003, and

b

in relation to a Schedule 4 CSOP scheme, has the meaning given in paragraph 28A(6) of Schedule 4 to ITEPA 2003.

F95

But subsection (4) does not apply in calculating the profits of a trade on the cash basis.