The Lloyd’s Underwriters (Scottish Limited Partnerships) (Tax) Regulations 1997

1. Introductory Text

2. Preliminary

   1. 1. Citation, commencement and effect

   2. 2. Interpretation

3. Provisions relating to both individual and corporate partners in aLloyd’s Scottish limited partnership

   1. 3. Operation of partnership assessment rules

   2. 4. Disapplication of cessation provisions

   3. 5. Ancillary trust funds relating to a Lloyd’s Scottish limited partnership

4. Provisions relating to individual partners in a Lloyd’s Scottish limited partnership

   1. 6. Basis of assessment

   2. 7. Disapplication of section 175 of the Finance Act 1993 (special reserve funds)

   3. 8. Disapplication of section 180 of the Finance Act 1993 (underwriting profits to be earned income)

   4. 9. Death of partner

   5. 10. Terminal loss relief

5. Signature

6. Explanatory Note