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OP 54: When credits and debits arise only in consolidated FDP group accounts
or “This provision about group tax accounting has been removed”
You could also call this:

“Rules for grouped company foreign dividends no longer apply”

This part of the law used to talk about rules for consolidated FDP groups. FDP stands for foreign dividend payment. However, this section has been removed from the law. It was taken out on 1 April 2017. This means that these rules no longer apply. If you need to know about consolidated FDP groups, you might need to look at other parts of the law or ask a grown-up who knows about taxes.

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Next up: OP 56: Consolidated FDPA payment of FDP

or “Outdated rule about group tax payments removed in 2009”
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Part O Memorandum accounts
Memorandum accounts of consolidated groups: Introductory provisions

OP 55Provisions applying to consolidated FDP groups (Repealed)

    Notes
    • Section OP 55: repealed, on , by section 241(1) of the Taxation (Annual Rates for 2016–17, Closely Held Companies, and Remedial Matters) Act 2017 (2017 No 14).