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LP 10: Limitation on deductions
or “This section about limits on tax deductions was removed in 2013”
You could also call this:

“Tax credits for certain companies no longer apply”

This part of the law was about tax credits for CTR companies. CTR stands for conduit tax relief. However, this section of the law no longer applies. It was removed on 30 June 2009. This means that the rules about tax credits for CTR companies that were once in this section are no longer in effect. If you need information about tax credits for companies, you should look at other parts of the tax law that are still active.

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Next up: LQ 2: Limitation on amount of credit

or “Tax credit under section LQ 2 no longer available”
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Part L Tax credits and other credits
Tax credits of conduit tax relief companies

LQ 1Tax credits of CTR companies (Repealed)

    Notes
    • Section LQ 1: repealed (with effect on 30 June 2009), on , by section 346(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).