• foreign exchange rates - Reverse charge on imported services

    The rates of exchange to be used to convert claims into sterling for the purposes of the imported service charge are as follows:

    Month  US $  CAN $ EURO  AUS $  J Yen  SA Rand Swiss F 
    January 2014 1.64   1.83 1.22 1.88 167.61 18.36 1.49
    February 2014 1.68  1.86  1.21 1.87 171.05  18.00 1.48
    March 2014 1.67  1.84 1.21 1.80 171.69 17.54 1.47

  • foreign exchange rates - Reverse charge on imported services

    The rates of exchange to be used to convert claims into sterling for the purposes of the imported service charge are as follows:

    Month US $ CAN $ EURO AUS $ J Yen SA Rand Swiss F
    April 2014 1.69 1.85 1.22 1.82 172.49 17.78 1.49
    May 2014 1.68 1.82 1.23 1.80 170.66 17.75 1.50
    June 2014 1.71 1.82 1.25 1.81 173.22 18.19 1.52

  • foreign exchange rates - Reverse charge on imported services

    The rates of exchange to be used to convert claims into sterling for the purposes of the imported service charge are as follows:

     

    Month US $ CAN $ EURO AUS $ J Yen SA Rand Swiss F
    July 2014 1.69  1.84 1.26 1.82 173.62 18.09 1.54
    August 2014 1.66 1.80 1.26 1.76 172.53 17.66 1.52
    September 2014 1.62 1.81 1.28 1.85 177.83 18.32 1.55
  • foreign exchange rates - Reverse charge on imported services

    The rates of exchange to be used to convert claims into sterling for the purposes of the imported service charge are as follows:

     

    Month US $ CAN $ EURO AUS $ J Yen SA Rand Swiss F
    October 2014 1.60  1.80 1.28 1.82 179.35 17.67 1.54
    November 2014 1.57 1.79 1.26 1.83 185.87 17.30 1.51
    December 2014 1.56 1.81 1.29 1.91 186.95 18.04 1.55

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foreign exchange rates 2013, 2012, 2011, 2010 & 2009 to 2004

For previous years exchange rates please use the link below:

Exchange rates for Lloyd's VAT purposes 2013

Exchange rates for Lloyd's VAT purposes 2012

Exchange rates for Lloyd's VAT purposes 2011

Exchange rates for Lloyds VAT purposes 2004 to 2009 and 2010

 

VAT incurred on claims and services supplied within the UK

Syndicates and managing agents can only recover UK VAT if it is incurred in relation to a supply made to a policyholder who belongs outside the European Union (EU). Managing agents and syndicates are reminded to ensure that Box 20 of the LCCF is completed correctly.

If you have any queries regarding Lloyd's VAT arrangements premium please contact Mary O'Brien of Lloyd's Taxation Department on +44 (0)20 7327 6852.