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2024 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 2024 is 85.93%.
  2. Members' Agents and those Lloyd's Advisors who negotiate syndicate participations must use the MAR for the year ended 31 December 2024 to calculate final input VAT recovery for the year ended 31 December 2024.
  3. The annual adjustment for 2024 is to be declared in the VAT return for the quarter ended 31 March 2025.
  4. Members' Agents and those Lloyd's Advisors who negotiate syndicate participations must also use the 2024 MAR (i.e. 85.93%) to determine input VAT recovery when preparing 2025 VAT returns, until the actual recovery rate for the year ended 31 December 2025 is advised (in April 2026).

Other information:

For full details of the Lloyd’s VAT Arrangements, please refer to: Lloyd's VAT arrangements - 1 January 2000 

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

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