Beta This part of GOV.UK is being rebuilt – find out what beta means

HMRC internal manual

Lloyd's Manual

Capital gains: Names: syndicate capacity: MAPAs: years of assessment up to and including 1998-99 (1)

For years of assessment up to 1998-99, two types of events connected with participation inthe MAPA were treated as chargeable occasions. These were as follows.

When bespoke capacity was transferred to a MAPA operator

This occurred when a member

  • first joined a MAPA
  • increased the value of business written via the MAPA
  • received a distribution from the MAPA operator either as cash, or in some circumstances, as syndicate capacity (a distribution in specie).

Where a member’s syndicate participations held via the MAPA changed

This occurred as a result of

  • additional subscriptions by other MAPA members
  • reduction in the level of participation by other MAPA members
  • the MAPA operator “trading” in capacity on behalf of all the MAPA members.

To the extent that the Name personally did not instruct the MAPA operator to increaseor reduce the level of participation via the MAPA, there was no need to return details ofthe disposals of syndicate capacity made on the member’s behalf by the MAPA operatorduring the year.

Full details of this approach were given in Lloyd’s Market Bulletin Y2122 issued on 6September 1999.