Corporation Tax Act 2009 section 983

Overview of Chapter

Section 983 provides an overview of the chapter dealing with corporation tax deductions available to companies that operate Schedule 2 share incentive plans (SIPs).

• The chapter covers corporation tax deductions relating to Schedule 2 share incentive plans, including how deductions are given effect and how amounts treated as received are dealt with
• Deductions are available for the costs of setting up a SIP and for its ongoing running expenses
• Deductions are also available for payments used to acquire shares for the plan trust, and for the costs of providing free shares, matching shares, partnership shares and dividend shares
• If a plan ceases to qualify as a Schedule 2 share incentive plan, deductions previously claimed may be withdrawn