The Lloyd’s Underwriters (Tax) (1988–89) Regulations 1991
These Regulations, which have effect for the year of assessment1988–89 only, provide for the assessment and collection of taxcharged on underwriting members of Lloyd’s in accordance with section450 of the Income and Corporation Taxes Act 1988 (“section 450”), so far as not provided for by Schedule 19A to that Act (“Schedule 19A”), and section 142A of the Capital Gains Tax Act 1979 (“section 142A”). They provide for the determination in certain circumstances of theperson who is a managing agent in relation to a syndicate ofunderwriting members of Lloyd's, and a members' agent in relation to anunderwriting member, for the purposes of Schedule 19A and theseRegulations. They also provide for the extension of time limits forunderwriting members of Lloyd’s and their spouses to make claims,elections or applications under specified provisions of the Taxes Acts.