{
  "url": "https://openlegislation.uk/lloyds-underwriters-tax-amendment-regulations-1996/regulation-4",
  "json_url": "https://openlegislation.uk/lloyds-underwriters-tax-amendment-regulations-1996/regulation-4.json",
  "legislation": "uksi/1996/781",
  "legislation_title": "The Lloyd’s Underwriters (Tax) (Amendment) Regulations 1996",
  "legislation_url": "https://openlegislation.uk/lloyds-underwriters-tax-amendment-regulations-1996",
  "path": "regulation/4",
  "kind": "regulation",
  "number": "4",
  "heading": "Amendments to the principal Regulations",
  "text": "After regulation 7 there shall be inserted the following regulations—\n“Payment of income tax— taxed income and tax credits\n7A The like provisions as are contained in sections 59A and 59B of the Management Act shall have effect for the year 1996-97 and subsequent years of assessment in relation to tax which—\n(a) is charged on income in accordance with section 171 of the Finance Act 1993, being income falling within section 172(1)(c) of that Act, and\n(b) either—\n(i) was paid by way of deduction at source, or\n(ii) is represented by a tax credit,\nas if references to income tax deducted or treated as deducted from any income or treated as paid on any income in respect of a year of assessment were references to income tax deducted or treated as deducted or paid in respect of the underwriting year corresponding to that year of assessment.\n7B The like provisions as are contained in section 824 of the Taxes Act shall have effect for the year 1996-97 and subsequent years of assessment in relation to—\n(a) any repayment of tax which was paid by way of deduction at source in respect of income charged to tax in accordance with section 171, and falling within section 172(1)(c), of the Finance Act 1993, and\n(b) any payment of the whole or part of a tax credit (to which section 824 of the Taxes Act applies by virtue of subsection (2) of that section) in respect of such income,\nas if the reference in subsection (3)(b) of that section to the year of assessment for which the tax was charged was a reference to the year of assessment for which the tax was assessed on the member concerned.\nYear of assessment to which taxed income and tax credits attributable\n7C The like provision as is contained in paragraph (a) of section 835(6) of the Taxes Act (total income) shall have effect for the year 1994-95 and subsequent years of assessment as if it provided that income falling within that paragraph and within section 172(1)(c) of the Finance Act 1993 should be deemed to be income of the year of assessment corresponding to the underwriting year in which it was received by the member concerned, and not income of the year of assessment referred to in that paragraph.”",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "Section 59A was inserted by section 192 of the Finance Act 1994 (c. 9), modified in relation to the year 1996-97 by paragraph 2 of Schedule 21 to the Finance Act 1995 (c. 4), and amended by section 108 of the Finance Act 1995. Section 59B was inserted by section 193 of the Finance Act 1994."
    },
    {
      "type": "footnote",
      "label": "f2",
      "text": "Section 171 was amended by section 228(3) of, and paragraph 1 of Schedule 21 and Part V(25) of Schedule 26 to, the Finance Act 1994."
    },
    {
      "type": "footnote",
      "label": "f3",
      "text": "Section 824 was amended by paragraph 7 of Schedule 13 to the Finance Act 1988 (c. 39), sections 110(5), 111(4), 158(2)(b) and 179(1)(a)(vii) of, and Parts IV, VIII and X of Schedule 17 to, the Finance Act 1989, paragraph 14(52) of Schedule 10 to the Taxation of Chargeable Gains Act 1992 (c. 12), and paragraph 41 of Schedule 19, and Part V(23) of Schedule 26, to the Finance Act 1994."
    },
    {
      "type": "footnote",
      "label": "f4",
      "text": "Section 835(6)(a) was amended by paragraph 16 of Schedule 6 to the Finance Act 1993."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1996/781/regulation/4",
    "retrieved_at": "2026-10-29T12:47:45.619984+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."
}