On 1 July 2007 Regulations were laid before Parliament which clarify the tax treatment if a single member syndicate holds assets in the Syndicate Premiums Trust Fund which are not allocated to a year of account. These Regulations came into force on 1 July 2007.

The new Regulations and Lloyd's market bulletin providing more information can be viewed by clicking on the links below

Corporation Tax - The Finance Act 1994, Section 220 (Amendment) Regulations 2007 (74KB, pdf)

Lloyd's market bulletin dated 29 June 2007 (Y4032) (35KB, pdf)