Section 999 Deduction for costs of setting up SAYE option scheme or CSOP scheme

This section applies if—

The schemes within this subsection are—

F5...

A deduction for the expenses is to be made in calculating for corporation tax purposes the profits of a trade or property business carried on by the company.

This is subject to subsections (4) and (5).

If the company is a company with investment business (as defined in F6section 1218B), the expenses are treated as expenses of management of the company.

But this subsection does not apply if the company's business is a property business (in which case subsection (3) applies instead).

If—

the expenses are treated for the purposes of section 76 of that Act as ordinary BLAGAB management expenses of the company.

If the F8relevant date falls more than 9 months after the end of the period of account in which the expenses are incurred—

In subsection (6) “the relevant date”—

So far as this section provides for a deduction to be allowed, it has effect despite section 53 (no deduction for items of a capital nature in calculating trading profits), including that section as applied by section 210 to the calculation of profits of a property business.