{
  "url": "https://openlegislation.uk/lloyds-underwriters-tax-regulations-1995/regulation-6",
  "json_url": "https://openlegislation.uk/lloyds-underwriters-tax-regulations-1995/regulation-6.json",
  "legislation": "uksi/1995/351",
  "legislation_title": "The Lloyd’s Underwriters (Tax) Regulations 1995",
  "legislation_url": "https://openlegislation.uk/lloyds-underwriters-tax-regulations-1995",
  "path": "regulation/6",
  "kind": "regulation",
  "number": "6",
  "heading": "Amount payable under stop-loss insurance – corporate member",
  "text": "(1) This regulation applies where—\n(a) any insurance money is payable to a corporate member under a stop-loss insurance in respect of a loss in its underwriting business, and the insurance money or, as the case may be, the apportioned part of the insurance money falls to be treated by virtue of section 225(2) of the Finance Act 1994 as a trading receipt in computing the profits arising from the business for an accounting period;\n(b) the amount so treated operates to reduce or extinguish the amount of the loss sustained by the corporate member in its underwriting business for that accounting period;\n(c) section 225(3) of the Finance Act 1994 does not apply as respects the payment of the insurance money; and\n(d) the inspector is precluded—\n(i) by section 34 of the Management Act from making an assessment under section 29(3)(c) of that Act or, as respects an accounting period ending on or after such day as is appointed under section 199(3) of the Finance Act 1994, section 29(1)(c) of the Management Act, in respect of the whole or any part of the amount so treated, or\n(ii) by section 30(5) of the Management Act from making an assessment under that section in respect of the whole or any part of that amount.\n(2) An assessment under section 29(3)(c) or, as the case may be, section 29(1)(c) or 30 of the Management Act in respect of the whole or any part of that amount shall not be out of time if made before the end of the underwriting year following the underwriting year in which the amount was received.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "On the day these Regulations are made, no such day has yet been appointed."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1995/351/regulation/6",
    "retrieved_at": "2026-10-29T13:16:35.653015+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."
}