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2022 Members’ Agents Rate

For Members' Agents, Combined Agents and Lloyd's Advisors

Members' Agents Rate 

  1. The Members' Agents Rate (MAR) for the year ended 31 December 2022 is 87.60%.
  2. Members' Agents and those Lloyd's Advisors who negotiate syndicate participations must use the MAR for the year ended 31 December 2022 to calculate final input VAT recovery for the year ended 31 December 2022.
  3. The annual adjustment for 2022 is to be declared in the VAT return for the quarter ended 31 March 2023.
  4. Members' Agents and those Lloyd's Advisors who negotiate syndicate participations must also use the 2022 MAR (i.e. 87.60%) to determine input VAT recovery when preparing 2023 VAT returns, until the actual recovery rate for the year ended 31 December 2023 is advised (in April 2024).

Other information:

For full details of the Lloyd’s VAT Arrangements, please refer to Market Bulletin Y2507: Lloyd's VAT arrangements (Y2507) - 1 January 2000 (94.5KB)

If you have any queries regarding the MAR, please contact one of the Indirect Tax team in Lloyd's Tax Department.