Part 11Relief for particular employee share acquisition schemes
Chapter 1Share incentive plans
Deductions relating to setting up and running costs
987Deduction for costs of setting up an approved share incentive plan
1
This section applies if a company incurs expenses in setting up a share incentive plan that is approved by an officer of Revenue and Customs.
2
A deduction for the expenses is allowed to the company.
3
But no deduction is allowed under this section if before the approval—
a
an employee acquires rights under the plan, or
b
the trustees acquire shares for the purposes of the plan.
4
If the approval is given more than 9 months after the end of the period of account in which the expenses are incurred, the deduction is allowed for the period of account in which the approval is given.
5
No other deduction is allowed in respect of expenses for which a deduction is allowed under this section.