Memorandum accounts - Memorandum accounts of consolidated groups - Branch equivalent tax credits of consolidated BETA groups
OP 101: Consolidated BETA payment of income tax
You could also call this:
“Payment of income tax using Branch Equivalent Tax Account for company groups is no longer allowed”
This part of the law used to talk about how a group of companies could use something called a Branch Equivalent Tax Account (BETA) to pay income tax. However, this rule doesn’t exist anymore. It was removed on 1 July 2012. This means that from that date, companies can’t use this method to pay their income tax. If you want to know more about how companies pay their taxes now, you might need to look at other parts of the tax law.
OP 102: Consolidated BETA remaining debit balances, or
“Outdated rule about tax credits for company groups' overseas branches”
Part O
Memorandum accounts
Memorandum accounts of consolidated groups:
Branch equivalent tax credits of consolidated BETA groups
OP 101Consolidated BETA payment of income tax (Repealed)
Notes
Section OP 101: repealed, on (applying for income years beginning on or after that date), by section 120(1) of the Taxation (International Investment and Remedial Matters) Act 2012 (2012 No 34).
Section OP 101(4B): amended (with effect on 1 April 2008), on , by section 136(1) of the Taxation (Annual Rates, Returns Filing, and Remedial Matters) Act 2012 (2012 No 88).
Section OP 101(4C)(b): amended (with effect on 1 April 2008), on , by section 136(2) of the Taxation (Annual Rates, Returns Filing, and Remedial Matters) Act 2012 (2012 No 88).
