Commentary

V18.134 Registration of Lloyd's syndicates

Part V18 Insurance Premium Tax

V18.134 Registration of Lloyd's syndicates

V18.134 Registration of Lloyd's syndicates

A separate registration is not needed for Lloyd's underwriting members. Regulations made under FA 1994, s 62(4)1 provide for special arrangements that apply to Lloyd's under which the syndicates are registered. In practice the registration is made under the number of the syndicate although registration by reference to any other identifying feature such as the syndicate name is permitted2. Application for registration must be made using the paper Form IPT1.

Changes in the membership of the syndicate are ignored where registration is made in the name of the syndicate (or other

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