Part 11 U.K. Relief for particular employee share acquisition schemes

Chapter 1 U.K. Share incentive plans

Deductions relating to payments used to acquire shares U.K.

991 Another deduction to be allowed if all acquired shares are awarded U.K.

(1) This section applies if—

(a) a direction is made under section 990, and

(b) at any time after the making of the direction the condition in subsection (2) is met.

(2) The condition is that all the acquired shares are awarded under the plan.

(3) A deduction is allowed to the paying company for the period of account in which the condition is first met.

(4) The amount of the deduction is an amount equal to the payment mentioned in section 989(1)(a).