Memorandum accounts - Memorandum accounts of consolidated groups - Introductory provisions
OP 99: When credits and debits arise only in branch equivalent tax group accounts
You could also call this:
“This rule about branch equivalent tax group accounts is no longer in use”
This part of the law used to talk about when credits and debits happen only in branch equivalent tax group accounts. However, it’s no longer in effect. The government removed this section on 6 October 2009, but it actually stopped being used on 30 June 2009. This means that you don’t need to worry about this rule anymore because it doesn’t apply to anyone now.
OP 100: Consolidated BETA payment of income tax on foreign income, or
“Old rule about tax on overseas income for company groups no longer applies”
Part O
Memorandum accounts
Memorandum accounts of consolidated groups:
Introductory provisions
OP 99When credits and debits arise only in branch equivalent tax group accounts (Repealed)
Notes
Section OP 99: repealed (with effect on 30 June 2009), on , by section 478(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).
