Everything was going well for Ah Bo (Stephy Tang) until recently. After graduating from college, Ah Bo decided to open a shop with her long-time boyfriend, Ah Jun (Stephen Wong Ka Lok), thinking that she would eventually marry Jun when everything has been set up and running smoothly.
One day, Bao met her old classmate Kei Kei (Alice Tzeng). Kei Kei, being smitten by Ah Jun; decided to steal Ah Jun for her own, not caring about Ah Bo's feelings. It turned out that not only Bo has lost her love of a lifetime, she also loses her shop.
Ah Bo's good friend, Ah Man (Leila Tong) and long time boyfriend, Ah Fung (Terry Wu). In the meantime, Ah Fung is also two-timing Ah Man with another woman. Although Ah Man does love Ah Fung, she takes him for granted and thinks that he will never leave her. She is also selfish and doesn't want to be tied to a single relationship.
After the break-up, Ah Bo found a job as a make-up artist in the mall. Her boss Ah Kuen broke the news of her engagement and invited everyone out to celebrate. At the party, Ah Bo realized that her boss’s really young fiancee is very familiar. She recognized him as her old neighbor Ah Keung(Alex Fong) but Ah Keung keeps pretending that he doesn’t know Ah Bo.
A month later, Ah Kuen’s wedding was suddenly canceled. Bo found out from coworkers that Ah Kuen’s life savings were all stolen from the fiancee, who also disappeared. Ah Bo unexpectedly met Ah Keung on the streets. Ah Keung already has a new target, Tiffany (Suki Tsui). He finds Ah Bo following him. Ah Bo hires Ah Keung to deceive Kei Kei and let her have a taste of her medicine.
One day Ah Keung met his ex-girlfriend, Ah Yun (Linda Chung). Ah Yun told Ah Keung that her family will move to Singapore. Although Ah Keung had deceived Ah Yun's sister's money, but they weren't angry with him now.
As an experienced liar, Ah Keung successfully courted Kei Kei. Being abandoned by Kei Kei, Ah Jun decided to make up with Ah Bo. But Ah Bo has no more feelings for Ah Jun because deep in her heart, she unknowingly fell in love with Ah Keung.
Ah Man finally felt tired and decided to set up a stable relationship with Ah Fung. But Ah Fung tells Ah Man that he wants to break up. In the past 6th months, Ah Fung was actually secretly dating his co-worker’s girlfriend Ah Min (Miki Yeung). Ah Fung finally decided to let go of Ah Man and had chosen Ah Min for a 'back up lover' relationship upon agreeing with her, which, although did not last because Ah Min decided to get married with her real boyfriend, gave him new insights. He found out there is more to love than just being with someone (Love is about caring, not taking for granted, giving freedom to choose...all that he discovered with Ah Min). So, he lets go of Ah Man (who is sobbing at the break up) because he feels she needs someone different who can also accept her as she is and who she can accept and love - they were incompatible and he put up with her, while she, on the other hand, did a few horrible things to Ah Fung, only to regret them immediately afterwards.
L for Love, L for lies has a fascinating ending with a strange, maybe unthinkable twist, especially after what the story line evolved to. However, in summary, Love can show its true form in the things we do that are not noticed - it is Love when we do something good for a loved one, but it also takes the shape of lies (lies to make things better and maintain stability/protect loved ones, or lies for deception, eg cheating and being dishonest in a relationship). There is a sharp contrast with the repenting Ah Keung and Ah Jun who gets a second chance (and the ending tells it all really), as to who really loved Ah Bo, despite the lies (notice the difference in the lies throughout the story and the way they followed these lies with actions).