COMPLETE LLOYD’S SERVICE
As independent Chartered Tax Advisers we provide a complete and proactive service for both
Lloyd’s tax issues and general tax. A proportion of our fee can be claimed as an expense of
your Lloyd’s trade.

In March/April we obtain from your members’ agent details of the forthcoming distribution for the
account closing at the previous 31st December, together with current estimates for the two
subsequent accounts. Using this information we provide you with estimates of the tax adjusted
results based upon your last tax return. This enables us to provide estimates of your tax
liabilities for the forthcoming years. We also advise on ways to mitigate the tax on the profits by
making transfers to SRF/CER and/or funding pensions. In loss making years we review the
loss relief claims available and can suggest planning measures to maximise your tax relief.
Later in the year we prepare your tax return including your Lloyd’s results and calculate capital
gains/losses on any disposals of Lloyd’s capacity for the year. We then calculate your final tax
liability. We also review payments on account based on our estimates of Lloyd’s profits for the
following year and update our estimates of the pension contributions you could make if
necessary.

Throughout the year we provide advice on all tax matters, both general and Lloyd’s related, e.g.
inheritance tax and capital gains tax planning. We also advise on conversion to limited liability
vehicles.

Our Managing Partner, Ian Wadhams, is a member of the ALM TAG and is frequently involved
in campaigning for the beneficial tax treatment of Lloyd’s Names.

“LLOYD’S ONLY” SERVICE

Some clients have their main business interest outside of Lloyd’s and prefer to make use of our
“Lloyd’s only” service, leaving the general tax work with their existing adviser. Some clients may
also wish to prepare their own tax returns. Our “Lloyd’s only” service caters for both and works
like this:-

In March/April we obtain from your members’ agent details of the forthcoming distribution for the
account closing at the previous 31st December, together with current estimates for the two
subsequent accounts. Using this information we provide you with estimates of the tax adjusted
results based upon your last tax return. This enables you to consider mitigating tax on the
profits by making transfers to SRF/CER and/or funding pensions.
Later in the year we prepare the Lloyd’s pages for your tax return, together with any associated
pages such as those to claim foreign taxes, for you or your general accountant to include in
your tax return.

Throughout the year we provide general Lloyd’s related tax advice as required.
We charge a fixed fee for all of the above which is invoiced to you on 1st May each year and is
fully tax deductible as an expense of your Lloyd’s trade.
If you would like us to calculate capital gains on any disposals of Lloyd’s syndicate capacity we
are more than happy to do so. An estimate of the cost will be given as far as possible before
any work is carried out.

In addition to this we can provide one off consultations on all tax matters, for example tax
planning to mitigate potential inheritance tax and/or capital gains tax liabilities, for which we
would charge an additional fee. An estimate of the cost will be given as far as possible before
any work is carried out.