OD 1: General rules for companies with CTR accounts
You could also call this:
“Old rules for companies with special tax accounts no longer apply”
This section of the law is about general rules for companies that have CTR accounts. CTR stands for ‘conduit tax relief’. However, this part of the law no longer applies. It was removed on 7 May 2012, but this change affects things from 1 July 2011. The rules don’t work for any income years that started on or after 1 July 2011. If you want to know more about why this changed, you can look at section 99(1) of the Taxation (International Investment and Remedial Matters) Act 2012.
“CTR accounts are no longer used for tax purposes”
Part O
Memorandum accounts
Conduit tax relief accounts (CTRA)
OD 1General rules for companies with CTR accounts (Repealed)
Notes
Section OD 1: repealed (with effect on 1 July 2011 and applying for income years beginning on or after that date), on , by section 99(1) of the Taxation (International Investment and Remedial Matters) Act 2012 (2012 No 34).
