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OB 7B: ICA payment of qualifying company election tax
or “Imputation credit for paying qualifying company election tax”
You could also call this:

“Companies can't claim tax credits for research and development spending”

You can no longer use this section of the law. It was about companies spending money on research and development. The government removed this section on 30 March 2017, but it applies from 1 April 2009. If you want to know more about how this change happened, you can look at section 191 of the Taxation (Annual Rates for 2016–17, Closely Held Companies, and Remedial Matters) Act 2017.

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Next up: OB 8: ICA resident withholding tax withheld

or “Imputation credit for ICA companies on resident withholding tax”
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Part O Memorandum accounts
Imputation credit accounts (ICA)

OB 7CICA expenditure on research and development (Repealed)

    Notes
    • Section OB 7C: repealed (with effect on 1 April 2009), on , by section 191 of the Taxation (Annual Rates for 2016–17, Closely Held Companies, and Remedial Matters) Act 2017 (2017 No 14).