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LA 8B: General rules particular to life insurers
or “Special tax credit rules for life insurance companies”
You could also call this:

“How tax credits can be used and their limitations”

When you have a tax credit, you can only use it once. This means that once you’ve used the amount of your tax credit, you can’t use it again. The tax credit is used up to the full amount that it covers.

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Next up: LA 10: Meaning of tax credit

or “ Tax credits are amounts that reduce the tax you owe ”
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Part L Tax credits and other credits
General rules for tax credits

LA 9Use of tax credits

  1. An amount of a tax credit is used once, so far as it extends.

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Notes
  • Section LA 9: amended (with effect on 1 April 2008), on , by section 311(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).
  • Section LA 9: amended, on , by section 435 of the Taxation (Business Taxation and Remedial Matters) Act 2007 (2007 No 109).