Lloyd's names get LLP tax break
Investors at insurance market to be allowed to limit liability
Lloyd’s ‘names’ are to be allowed to form tax-efficient Limited Liability Partnerships, The Times reports.
From 2006, individual investors are to be allowed to form LLPs, allowing them to limit their liability.
The new structure has greater tax advantages over NameCos or Scottish Limited Partnerships, previously the only way investors could cap their potential losses.