LLM2113 | Syndicate accounts: taxation: transactions in foreign currencies: forex differences: Lloyd's Market Bulletin Y4334

The approaches discussed at LLM2110 to LLM2112 reflect HMRC’s view based on our understanding of relevant syndicate accounting methodologies from discussions with Market participants and with Lloyd’s. This guidance is brought together with some additional explanation and examples in Lloyd’s Market Bulletin Y4334, published on 20 November 2009. This Market Bulletin succeeds Y2556 issued on 4 June 2001.