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OC 38: Meaning of reduced deficit debit
or “This outdated section about reduced deficit debits was removed from tax rules in 2010”
You could also call this:

“What 'shareholder FDP ratio' used to mean (no longer applies)”

This part of the law used to explain what a ‘shareholder FDP ratio’ meant. FDP stands for ‘foreign dividend payment’. The shareholder FDP ratio was related to how companies kept track of their money, especially when dealing with foreign dividends. However, this section of the law no longer applies. It was removed on 1 July 2010, which means it’s not part of the current rules anymore. If you need to know about how foreign dividends are handled now, you’ll need to look at other, more recent parts of the tax laws.

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Next up: OD 1: General rules for companies with CTR accounts

or “Old rules for companies with special tax accounts no longer apply”
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Part O Memorandum accounts
Foreign dividend payment accounts (FDPA)

OC 39Meaning of shareholder FDP ratio (Repealed)

    Notes
    • Section OC 39: repealed, on , by section 418(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).