“This rule about certain company dividends was removed in 2017 and no longer applies”
This provision, called ‘FDPA dividend derived with FDP credit’, was part of the Income Tax Act 2007. It was about memorandum accounts. However, you don’t need to worry about it anymore because it was removed from the law on 1 April 2017. This means it no longer applies to anything.
OC 8: FDPA payment of FDP for transfer from CTR account, or
“This provision about paying tax on certain company account transfers has been removed from the law”
Part O
Memorandum accounts
Foreign dividend payment accounts (FDPA)
OC 7FDPA dividend derived with FDP credit (Repealed)
Notes
Section OC 7: repealed, on , by section 216 of the Taxation (Annual Rates for 2016–17, Closely Held Companies, and Remedial Matters) Act 2017 (2017 No 14).
