LLMUPDATE070615 - Lloyds Manual: recent changes

Below are details of the amendments that were published on 15 June 2007 (see the update index for all updates)

Section	Details of update
LLM2170	Syndicate accounts: taxation: transfer pricing \n \nIncludes details of a memorandum agreed between HMRC and Lloyd’s about the practical application of the new UK to UK transfer pricing legislation in the Lloyd’s Market
LLM4020	Corporate members: accounts: introduction \n \nMakes clear that the 2005 Statement of Recommended Accountacy Practice issued by the Association of British Insurers is now final so that from 1 January 2005 Lloyd’s main financial reporting regime moved from three-year funded accounting to annual accounting and Lloyd’s corporate members all use the annual basis from that date
LLM7100	Double taxation relief: corporate members: Regulations: outline \n \nOne of nine new pages about double taxation relief for corporate members
LLM7110	Double Taxation Relief: corporate members: Regulations: calculating the foreign tax pool: ”correspondence” between accounting periods and foreign periods of accounting \n \nOne of nine new pages about double taxation relief for corporate members
LLM7120	Double Taxation Relief: corporate members: Regulations: calculating the foreign tax pool: adjustments of foreign amounts of tax \n \nOne of nine new pages about double taxation relief for corporate members
LLM7130	Double Taxation Relief: corporate members: Regulations: calculating the foreign tax pool: the amount of the pool \n \nOne of nine new pages about double taxation relief for corporate members
LLM7140	Double Taxation Relief: corporate members: Regulations: calculating the foreign tax pool: foreign tax adjustments \n \nOne of nine new pages about double taxation relief for corporate members
LLM7150	Double Taxation Relief: corporate members: Regulations: calculating the foreign tax pool: transitional arrangements \n \nOne of nine new pages about double taxation relief for corporate members
LLM7160	Double Taxation Relief: corporate members: Regulations: how relief is given \n \nOne of nine new pages about double taxation relief for corporate members
LLM7170	Double Taxation Relief: corporate members: Regulations: foreign measure of profit \n \nOne of nine new pages about double taxation relief for corporate members
LLM7180	Double Taxation Relief: corporate members: pre-pooling rules \n \nOne of nine new pages about double taxation relief for corporate members
Glossary	Definition of takaful has been added