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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 / E5.615 Interest paid

Interest paid personally by a Name on borrowings:

  1. Ìý

    (a)ÌýÌýÌýÌý to fund losses

  2. Ìý

    (b)ÌýÌýÌýÌý to meet cash calls

  3. Ìý

    (c)ÌýÌýÌýÌý to finance funds at Lloyd's (see E5.604 for background on funds); and

  4. Ìý

    (d)ÌýÌýÌýÌý to fund stop-loss premiums

is allowed as a deduction in computing their trading profits and is allowed

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