LLM3300 - Reinsurance to close (RITC) and technical provisions: taxation following repeal of section 107 FA2000: the appropriate amount: adaptations for Lloyd鈥檚 members

FA07/SCH11 and SI2009/1926 (鈥榯he appropriate amount Regulations鈥�) apply with limited adaptations to members of Lloyd鈥檚 syndicates as they do to general insurance companies. The calculations are at syndicate level which represents a contrast compared with FA00/S107 and its associated Regulations - see LLM3010.

LLM3310 and LLM3330 consider the adaptations needed for Lloyd鈥檚 syndicate members to the primary legislation (FA07/SCH11) and LLM3320 the adaptations to the appropriate amount Regulations which support the primary legislation.

The legislation applies to syndicate returns for profits or losses declared in 2010 onwards.