Memorandum accounts - Memorandum accounts of consolidated groups - Branch equivalent tax debits of consolidated BETA groups
OP 108: Consolidated BETA debit for loss of shareholder continuity
You could also call this:
“Outdated tax rule about company ownership changes and tax balances”
You should know that this part of the law about ‘Consolidated BETA debit for loss of shareholder continuity’ is no longer in effect. It was removed from the Income Tax Act 2007 on 6 October 2009. This change applied to events from 30 June 2009 onwards. The government made this change as part of a larger set of updates to tax rules about international taxation, life insurance, and other related matters.
OP 108B: Consolidated BETA group with credit balance at beginning of first affected income year, or
“Removed rule about business groups with extra money at tax year start”
Part O
Memorandum accounts
Memorandum accounts of consolidated groups:
Branch equivalent tax debits of consolidated BETA groups
OP 108Consolidated BETA debit for loss of shareholder continuity (Repealed)
Notes
Section OP 108: repealed (with effect on 30 June 2009), on , by section 479(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).