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OD 7: CTRA dividend derived with CTR credit
or “Removed rule about special dividends with tax credits”
You could also call this:

“This outdated provision about reducing foreign dividend payments in a tax credit account is no longer applicable”

This section of the law, called ‘CTRA reduction of FDP’, was part of the Income Tax Act 2007. It was about memorandum accounts. However, this part of the law no longer applies. It was removed on 30 June 2009. This means you don’t need to worry about following this rule anymore because it’s not in use.

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Next up: OD 9: CTRA reversal of tax advantage arrangement

or “Removed rule about undoing tax benefits in certain company accounts”
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Part O Memorandum accounts
Conduit tax relief accounts (CTRA)

OD 8CTRA reduction of FDP (Repealed)

    Notes
    • Section OD 8: repealed (with effect on 30 June 2009), on , by section 425(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).