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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 07 December 2009
(see the update index for all updates)

Section Details of update
   
LLM1170 Revised text about the Corporation of Lloyd’s and central functions
LLM2000 Changes to index
LLM2100 Revised text about syndicate profits and transactions in foreign currencies
LLM2110 Revised text about syndicate accounts, transactions in foreign currencies and forex differences after closing date 
LLM2111 New page about syndicate accounts, transactions in foreign currencies and forex differences on early profit releases
LLM2112 New page about syndicate accounts, transactions in foreign currencies and forex differences on excess US dollar cash calls
LLM2113 New page about syndicate accounts, forex differences on transactions in foreign currencies and Lloyd’s Market Bulletin
LLM2120 Revised text about syndicate accounts and the Reinsurance to Close (RITC) premium
LLM2130 Revised text about syndicate accounts and the investment income from premium trust fund assets
LLM3000 Revised introduction and updated index
LLM3010 Revised text about the application of section 107 FA2000 to Lloyd’s members
LLM3020 Revised text about the application of section 107 FA2000 to Lloyd’s members and the 4% rule
LLM3030 Revised text about the application of section 107 FA2000 to Lloyd’s members and periods affected
LLM3040 Revised text about the application of section 107 FA2000 to Lloyd’s members and the meaning of technical provisions
LLM3050 Revised text about adaptations to section 107 FA2000 for Lloyd’s members and changes in a member’s share of the syndicate’s business
LLM3080 Revised text about adaptations to section 107 FA2000 for Lloyd’s members and regulation 7(1) to (3) of the GI reserves tax Regulations
LLM3090 Revised text about adaptations to section 107 FA2000 for Lloyd’s members and regulation 7(4) and (5) of the GI reserves tax Regulations
LLM3100 Revised text about adaptations to section 107 FA2000 for Lloyd’s members and regulation 7(6) to (12) of the GI reserves tax Regulations
LLM3210 Revised text about the taxation before and after section 107 FA 2000
LLM3300 New page about the appropriate amount and adaptations for Lloyd’s members
LLM3310 New page about the appropriate amount and adaptations of FA07/SCH11
LLM3320 New page about the appropriate amount Regulations and application to members of Lloyd’s syndicates
LLM3330 New page about Lloyd’s syndicates and amendment of the administrative regulations for enforcement purposes
LLM3400 New page about the background to equalisation reserves for corporate and partnership members
LLM3410 New page about the scope of relief for equalisation reserves for corporate and partnership members
LLM3420 New page about equalisation reserves for corporate and partnership members and the equivalent Lloyd’s reserve
LLM3430 New page about equalisation reserves for corporate and partnership members and the application of the section 444BA ICTA rules
LLM3440 New page about equalisation reserves for corporate and partnership members and election not to take a tax deduction
LLM3450 New page about equalisation reserves for corporate and partnership members and cessations
LLM3460 New page about equalisation reserves for corporate and partnership members and anti-avoidance
LLM4050 Revised text about the general rules for taxing corporate members
LLM4110 Revised text about corporate members and the taxation of income and gains from ancillary trust fund (ATF) assets
LLM4150 Revised text about corporate members and stop loss contracts. It reflects, on advice, a change of interpretation of what reinsurance deductible as an expense may fall within the scope of being a deduction from profits “arising directly from membership of one or more syndicates” and so be subject to the timing rules of the declaration basis
LLM4160 Revised text about corporate members and quota share contracts
LLM5040 Revised text about Names and the taxation of trade profits
LLM5090 Revised text about Names and income from ATFs 
LLM5100 Revised text about Names and dividends and scrip dividends  
LLM5110 Revised text about Names, income from ATFs and foreign tax
LLM5130 Revised text about Names and stop loss recoveries
LLM5180 Revised text about Names and expenditure on stop loss and quota share insurance
LLM6080 Revised text about taxing partners in Scottish limited partnerships
LLM6100 Revised text about the commencement and cessation of Scottish limited partnerships
LLM8080 Revised text about capital gains and reversion of syndicate capacity to managing agent 
LLM8100 Revised text about syndicate capacity and negligible value claims