Corporation Tax Act 2009 (c. 4)

SCHEDULES

SCHEDULE 2 Transitionals and savings

Part 13 Relief for share incentive plans

Deduction for contribution to plan trust

105 Section 989(1)(a) does not apply in relation to a payment made before 6 April 2003.

Award of shares to excluded employee

106 (1) This paragraph applies if an amount is received by a company under section 992 as a result of shares having been awarded to an excluded employee in an accounting period that ends before 1 April 2009.

(2) Section 986 does not apply in relation to the amount.

(3) The amount is treated as a trading receipt of the company for the period of account in which the shares were awarded to the excluded employee.