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OB 53: ICA debit on resident’s restricted amalgamation
or “Decrease in tax credits when companies merge in a specific way”
You could also call this:

“Imputation debit for tax advantage schemes”

If you are an ICA company, you will get an imputation debit for the amount of a debit for a tax advantage arrangement. This is decided under section GB 36, which is about rebuilding imputation arrangements to get a tax advantage.

This imputation debit is listed in a table called O2: imputation debits. It’s in row 27, which is about tax advantage arrangements.

The date of this debit is the last day of the tax year when the debit for the tax advantage arrangement is worked out.

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Next up: OB 55: ICA retrospective imputation credit

or “Adding a credit to a non-cash dividend after it's paid out”
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Part O Memorandum accounts
Imputation credit accounts (ICA)

OB 54ICA tax advantage arrangement

  1. An ICA company has an imputation debit for the amount of a debit for a tax advantage arrangement determined under section GB 36 (Reconstruction of imputation arrangements to obtain tax advantage).

  2. The imputation debit in subsection (1) is referred to in table O2: imputation debits, row 27 (tax advantage arrangement).

  3. The debit date is the last day of the tax year in which the debit for the tax advantage arrangement is determined.

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