2010

 

  • 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
    Oct 2010
    1.60
    1.63
    1.15
    1.63
    128.78
    11.12
    1.57
    Nov 2010
    1.56
    1.60
    1.20
    1.62
    130.46 
    11.05
    1.55
    Dec 2010
    1.57
    1.56
    1.17
    1.53
    126.98
    10.36 
    1.46
  • 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 2010
    1.57
    1.61
    1.20
    1.73
    135.72
    11.44
    1.64
    Aug 2010
    1.54
    1.64
    1.21
    1.73
    129.05 
    11.34
    1.56
    Sep 2010
    1.58
    1.62
    1.15
    1.63
    131.64
    10.99 
    1.54
  • 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 2010 
    1.53
    1.55
    1.15
    1.64
    143.90 
    11.26
    1.65 
    May 2010 
    1.45
    1.52
    1.18
    1.73
    132.27 
    11.17
    1.68
    June 2010 
    1.50
    1.59
    1.22
    1.77
    132.39
    11.47
    1.61

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foreign exchange rates 2004 to 2009 

For previous years exchange rates please use the link below:

Exchange rates for Lloyds VAT purposes 2004 to 2009


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 Sarah-Jane Stoddart of Lloyd's Taxation Department on +44 (0)20 7327 6856.