Section 987 Deduction for costs of setting up a Schedule 2 share incentive planF5

This section applies if a company incurs expenses in setting up a share incentive plan that is F1a Schedule 2 share incentive plan.

A deduction for the expenses is allowed to the company.

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If the F3relevant date falls 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 relevant date falls.

In subsection (4) “the relevant date”, in relation to a share incentive plan, has the meaning given in paragraph 81A(6) of Schedule 2 to ITEPA 2003.

No other deduction is allowed in respect of expenses for which a deduction is allowed under this section.