Related Commentary  Related HMRC Manuals

1000(1)  This section applies if a company incurs expenses in setting up a qualifying employee share ownership trust (within the meaning of Schedule 5 to FA 1989).

1000(2)  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 subsection (3).

1000(3)  If the company is a company with investment business (as defined in section 1218B), the expenses are treated as expenses of management of the company.

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