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HL 24: Payments of tax by portfolio tax rate entity choosing to make payments when investor leaves
or “Rule for tax payments when investors leave certain groups was removed in 2010”
You could also call this:

“Portfolio tax rate entities' optional tax payments rule no longer applies”

This part of the law used to talk about optional tax payments for portfolio tax rate entities. However, it has been removed from the law. The government took it out on 1 April 2010. This change affects how taxes are calculated from the 2010-11 tax year onwards. If you want to know more about why this change happened, you might need to look at section 292(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009.

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Next up: HL 26: Portfolio investor allocated income and portfolio investor allocated loss

or “Former rules about income and loss for portfolio investors”
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Part H Taxation of certain entities
Portfolio investment entities

HL 25Optional payments of tax by portfolio tax rate entities (Repealed)

    Notes
    • Section HL 25: repealed, on (applying for the 2010–11 and later income years), by section 292(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).