PART 1General
Citation, commencement and effect1
1
These Regulations may be cited as the Lloyd’s Underwriters (Tax) Regulations 2005 and shall come into force on 27th December 2005.
2
These Regulations shall have effect—
a
in their application to members who are individuals, for the year 2006-07 (including any actions taken before 6th April 2006, in relation to the year 2006-07) and subsequent years of assessment; and
b
in their application to corporate members, for accounting periods ending after 31st December 2005 (but not in relation to profits and losses arising to corporate members which are mentioned in section 220(2) of the Finance Act 1994 and are declared in 2005).