Insight and Intelligence on the London & International Insurance Markets

9 February 2012

Lloyd's insurers await Finance Bill for reserves tax detail

27 April 2009

Lloyd's insurers will scour the UK Finance Bill 2009 upon publication (expected 30 April) for further details of how the tax deduction for equalisation reserves will be calculated.

Last Wednesday's (22 April) 2009 Budget Report saw the UK Treasury confirm previous proposals to bring the tax treatment for equalisation reserves at Lloyd's insurers in line with general insurance companies.

It said the changes will be retrospectively applied to results treated as declared in 2008 - in other words those originating...

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