Part 11Relief for particular employee share acquisition schemes
Chapter 1Share incentive plans
Withdrawal of approval for a plan
998Withdrawal of deductions if approval for share incentive plan withdrawn
1
This section applies if—
a
a deduction is made by a company under section 989, 991, 994 or 995 in relation to an approved share incentive plan, and
b
the approval for the plan is withdrawn.
2
An officer of Revenue and Customs may by notice direct that the deduction is withdrawn.
3
If a direction is made, the company is treated as receiving an amount equal to the deduction.
4
The amount is treated as received when the direction is made.