Paragraph 76

Section 987 (deduction for cost of setting up plan) is amended as follows.

In the heading for “an approved” substitute “ a Schedule 2 ”.

In subsection (1) for “approved by an officer of Revenue and Customs” substitute “ a Schedule 2 share incentive plan ”.

Omit subsection (3).

In subsection (4) for “approval is given” (in both places) substitute “ relevant date falls ”.

After subsection (4) insert—

“(4A)

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.”