Have a read of this:
http://www.caa.co.uk/docs/175/srg_fcl_14_v2.pdf
The sections you need are on pages 15-17 (of 17)
Section 5 - Abnormal and Emergency Procedures...
For LPC purposes this section is relevant to SE type/class only...
Engine shutdown and restart
• Use checklist correctly.
• Maintain aircraft heading and performance.
• Effect drills without assistance.
Which seems to indicate that initial skills test this will be tested, but for LPC it need not be tested.
There's some interesting reading in this document about combined IR/MEP LPCs as well
All my MEP renewals (both pre and post IR) have included shutdown and restart whilst airborne.