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LL 3: Meaning of grey list dividend
or “Definition of grey list dividend removed from tax law”
You could also call this:

“Tracking accounts for tax credits are no longer required”

You don’t need to keep track of any accounts for this part of the law anymore. The rule about tracking accounts for tax credits was removed on 30 June 2009. This means it’s no longer something you have to worry about when dealing with your taxes.

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Next up: LL 5: Meaning of foreign dividend company net earnings

or “Definition of foreign dividend company earnings removed from law”
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Part L Tax credits and other credits
Underlying foreign tax credits (UFTC)

LL 4Tracking accounts (Repealed)

    Notes
    • Section LL 4: repealed (with effect on 30 June 2009), on , by section 343(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).