CG53720 | Qualifying corporate bonds: Lloyd's Underwriters

Special rules exist for dealing with gains that accrue to members of a Lloyd’s syndicate. CG20750 explains which offices deal with Lloyd’s underwriters.

Syndicate assets may include securities which may be qualifying corporate bonds. It is only gains that accrue on the disposal of assets held in Personal Funds (Ancillary funds) which can be assessable gains under the TCGA on the member of a syndicate. Gains in other funds are chargeable as income. Note that assets held by a person in a capacity other than a member of a syndicate are subject to the normal rules within the TCGA.