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HMRC internal manual

Lloyd's Manual

From
HM Revenue & Customs
Updated
, see all updates

Lloyds Manual: recent changes

Below are details of the amendments that were published on 31 December 2007 (see the update index for all updates)

Section Details of update
   
LLM1010 Introduction to Lloyd’s: background
Includes additional background    
  LLM1020 Introduction to Lloyd’s: market developments: 1992 to 2002
Includes a summary of the October 2006 agreement between Equitas and the US Berkshire Hathaway Corporation    
  LLM1030 Introduction to Lloyd’s: market developments: 2002 onwards
Includes updated statistical information    
  LLM1040 Introduction to Lloyd’s: basic concepts and terms: types of Lloyd’s member
Explains “What’s in a Name?” in more detail    
  LLM1070 Introduction to Lloyd’s: basic concepts and terms: types of Lloyd’s member: conversion vehicles
Includes more explanation about corporate body members    
  LLM1080 Introduction to Lloyd’s: basic concepts and terms: syndicates
Includes more explanation about syndicates and updated statistical information    
  LLM1090 Introduction to Lloyd’s: basic concepts and terms: managing agents and premium trust funds
Includes more explanation    
  LLM1095 Introduction to Lloyd’s: basic concepts and terms: managing agents and premium trust funds: aligned member syndicates
New page    
  LLM1200 Introduction to Lloyd’s: capital structure: the chain of security: Funds at Lloyd’s
Includes more explanation about ancillary trust funds    
  LLM2010 Syndicate accounts: overview of accounting and tax
Reflects new legislation    
  LLM2210 Syndicate accounts: format of underwriting year accounts under annual accounting from 2005
Includes more explanation about how investment return is generally allocated to years of account    
  LLM4050 Corporate members: taxation: general rules
The summary is expanded to include an exception in the case of aligned members    
  LLM4090 Corporate members: taxation of premium trust fund (PTF) income and gains
Includes more explanation about the taxation of aligned members    
  LLM4105 Corporate members: taxation of premium trust fund (PTF) income and gains: aligned member syndicates
New page    
  LLM4120 Corporate members: taxation of assets employed in connection with underwriting
Includes an updated explanation about assets employed in connection with the underwriting business    
  LLM4150 Corporate members: ‘member level’ stop loss contracts
Includes more explanation about stop loss insurance    
  LLM4210 Corporate members: syndicate capacity: accounting periods ending on or after 1 April 2002: paragraph 10 elections
Includes more explanation about what is a fungible asset    
  LLM4240 Corporate members: transfers of business
Reflects new legislation    
  LLM4245 Corporate members: transfers of business: 2007 onwards
New page    
  LLM4250 Corporate members: restriction of group relief
New page    
  LLM4251 Corporate members: restriction of group relief: example
New page    
  LLM4260 Corporate members: investment trusts
Renumbered page (previously LLM4250)    
  LLM5010 Names: background to the tax rules
Includes background relating to partnerships    
  LLM5030 Names: taxation in earlier years: Reconstruction and Renewal
Explains correct tax treatment of ISS payments    
  LLM5360 Names: basis of assessment: post cessation receipts and expenses
Explains about returned premiums under the arrangement between Equitas and Berkshire Hathaway    
  LLM5380 Names: loss relief (except terminal losses)
Includes updated legislative references    
  LLM5390 Names: terminal loss relief
Includes updated legislative reference    
  LLM5420 Names: members underwriting since 1971: ‘regulation 13 relief’: calculation
Includes updated legislative reference    
  LLM6040 Conversion: collective conversion schemes: shares and loan stock
Includes updated legislative reference    
  LLM6050 Conversion: Namecos
Includes updated legislative reference    
  LLM6090 Conversion: Scottish limited partnerships: restriction of loss relief
Explains the general partnership trade loss relief cap and includes updated legislative references    
  LLM6150 Conversion: Limited Liability Partnerships
Includes more explanation about loss relief    
  LLM6160 Conversion: tax reliefs: background
Includes updated legislative references    
  LLM6190 Conversion: Schedule 20A FA93: Nameco conversions: trading losses
Includes updated legislative references    
  LLM6230 Conversion: Schedule 20A FA93: supplementary provisions
Includes updated legislative reference    
  LLM8140 Capital gains: Names: syndicate capacity: MAPAs: years of assessment up to and including 1998-99 (3)
Changes made to the example about the cost of acquisition of capacity taken from a MAPA