Memorandum accounts - Memorandum accounts of consolidated groups - Introductory provisions
OP 54: When credits and debits arise only in consolidated FDP group accounts
You could also call this:
“This provision about group tax accounting has been removed”
This part of the law used to be about when credits and debits would only appear in the accounts of a consolidated FDP group. However, this section has been removed from the law. It is no longer in effect as of 1 April 2017. If you need information about this topic, you should look at more recent parts of the tax law.
OP 55: Provisions applying to consolidated FDP groups, or
“Rules for grouped company foreign dividends no longer apply”
Part O
Memorandum accounts
Memorandum accounts of consolidated groups:
Introductory provisions
OP 54When credits and debits arise only in consolidated FDP group accounts (Repealed)
Notes
Section OP 54: repealed, on , by section 241(1) of the Taxation (Annual Rates for 2016–17, Closely Held Companies, and Remedial Matters) Act 2017 (2017 No 14).
