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LZ 1: Low tax jurisdiction companies
or “Companies in low-tax countries: Rules no longer apply”
You could also call this:

“Tax credits for development projects no longer apply”

This part of the law is about tax credits for certain development projects. However, it has been removed from the law. It used to be part of the Income Tax Act 2007, but it no longer applies. The government took it out of the law on 17 July 2013. This change affects tax years from 2013-14 onwards. If you’re looking for information about tax credits for development projects, you’ll need to check other parts of the tax law or ask a tax expert for the most up-to-date rules.

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Next up: LZ 3: Interest derived from development investments

or “Removed rules about interest from development investments”
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Part L Tax credits and other credits
Terminating provisions

LZ 2Certain development projects (Repealed)

    Notes
    • Section LZ 2: repealed (with effect on 1 April 2013 and applying for the 2013–14 and later income years), on , by section 74(1) of the Taxation (Livestock Valuation, Assets Expenditure, and Remedial Matters) Act 2013 (2013 No 52).