{
  "url": "https://openlegislation.uk/lloyds-underwriters-double-taxation-relief-regulations-1997/regulation-9",
  "json_url": "https://openlegislation.uk/lloyds-underwriters-double-taxation-relief-regulations-1997/regulation-9.json",
  "legislation": "uksi/1997/405",
  "legislation_title": "The Lloyd’s Underwriters (Double Taxation Relief) Regulations 1997",
  "legislation_url": "https://openlegislation.uk/lloyds-underwriters-double-taxation-relief-regulations-1997",
  "path": "regulation/9",
  "kind": "regulation",
  "number": "9",
  "heading": "Refunds of foreign tax",
  "text": "(1) Where—\n(a) income that is taken into account in computing the profits or losses of a member’s underwriting business is treated as reduced by foreign tax under section 811 of the Taxes Act, and\n(b) an amount of that foreign tax is subsequently repaid to the member,\nthe amount repaid shall be treated as a payment received as mentioned in section 172(1)(c).\n(2) Subject to paragraph (3), where—\n(a) relief for foreign tax is given by way of credit against United Kingdom tax on profits arising from a member’s underwriting business, and\n(b) an amount of that foreign tax is subsequently repaid to the member,\nthe amount of United Kingdom tax charged on the profits arising from the member’s underwriting business for the relevant year of assessment shall be treated as increased by the amount repaid.\n(3) Where—\n(a) relief by way of credit against United Kingdom tax on profits arising from a member’s underwriting business is claimed for an amount of foreign tax,\n(b) relief is given in respect of part only of the amount of the foreign tax claimed, and\n(c) an amount of the foreign tax claimed is subsequently repaid to the member,\nthe amount of United Kingdom tax charged on the profits arising from the member’s underwriting business for the relevant year of assessment shall be treated as increased by the amount (if any) which is equal to so much of the amount received as exceeds the amount of the foreign tax in respect of which relief was not given.\n(4) In paragraphs (2) and (3) “the relevant year of assessment”—\n(a) where the underwriting year in which the repayment of foreign tax was received is an underwriting year subsequent to the underwriting year corresponding to the member’s final year of assessment, means the member’s final year of assessment;\n(b) in any other case, means the year of assessment corresponding to the underwriting year in which the repayment of foreign tax was received.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1997/405/regulation/9",
    "retrieved_at": "2026-10-29T12:24:59.448296+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}