Paragraph 186

In section 999 (deduction for costs of setting up SAYE option scheme or CSOP scheme), for subsection (5) substitute—

“(5)

If—

(a)

the company is a company in relation to which the I - E rules apply, and

(b)

the expenses are referable, in accordance with Chapter 4 of Part 2 of FA 2012, to the company's basic life assurance and general annuity business,

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