The Lloyd’s Underwriters (Scottish Limited Partnerships) (Tax) (Amendment) Regulations 2006
Members of Lloyd’s are taxed according to legislation set out in Chapter 3 of Part 2 to the Finance Act 1993 (for individuals) and Chapter 5 of Part 4 to the Finance Act 1994 (for corporation tax). The Lloyd’s (Scottish Limited Partnerships)(Tax) Regulations 1997 (S.I. 1997/2681) ensure that the tax rules for Lloyd’s and partnerships operate satisfactorily in relation to Scottish Limited partnerships (“SLPs”), hitherto the only form of partnerships admitted to membership of Lloyd's.