Chapter IPT07250

Published date15 April 2016
Record NumberIPT07250
CourtHM Revenue & Customs
IssuerHM Revenue & Customs

With the exception of a small group, mostly motor insurance syndicates, all Lloyd’s syndicates subscribe to a voluntary scheme whereby Lloyd’s themselves prepare and submit a consolidated IPT return. Lloyd’s use the written premium basis of accounting for IPT. Apart from the facility of the consolidated Lloyd’s IPT return, there are no special rules for IPT accounting by Lloyd’s syndicates.

Lloyd’s motor syndicates are registered for...

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