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Home / Simons-Taxes /Personal and employment tax /Part E5 Special classes of individual /Division E5.6 Lloyd's underwriters /Taxation of underwriting income and gains / E5.611 Underwriting profits—individual Names

E5.611 Underwriting profits—individual Names

Personal and employment tax

E5.611 Underwriting profits—individual Names

For sources of income see E5.621. For Deductions from trading income see E5.614. For basis of assessment see E5.613.

A Name is treated as carrying on a business on their own account, which is solely the business of underwriting (this applies irrespective of how many syndicates the Name joins). An individual member of Lloyd's is taxed as an insurer, so that income tax treatment applies

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E5.406A Employees of European Union institutions—tax exemptions

D1.8101 Groups of companies

B2.306 General tests for distinguishing between capital and revenue expenditure

C2.1020 Employment-related securities options and capital gains

A4.557 Late filing penalties—company tax returns

E5.406 Employees of European Union delegations—tax exemptions

I5.226 Disposals of QIIPs for consideration

C2.1231 Leases—deemed premiums

C2.108 Contingent liabilities

I8.335 Valuation on death of partner in service

B2.319 Duality of purpose—apportionment of the expenditure

C3.305 Rollover relief—time limit for acquisition of replacement assets

E6.324H Nominated income and gains and the ordering rules

I11.215 IHT accounts—excepted settlements

B5.846 Charities and close companies

I5.1122 More than one settlor (income tax and CGT)

E3.192 CGT loss relief on disposal of EIS shares

D6.330 Special situations involving a transfer of trade with common ownership—business of leasing plant or machinery

E1.416 Dividends from non-UK resident companies—general

C3.1706 PPR relief where there is job-related accommodation

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