CG17941 - Taper relief: business asset: Lloyd's ancillary trust funds: Taper relief does not apply to disposals before 6 April 1998 or after 6 April 2008

TCGA92/SCHA1/PARA19

TCGA92/SchA1/para19 states that where an asset has been held as part of an ancillary trust fund of a member of Lloyd's, the Lloyd's use is ignored for the purpose of deciding whether the asset qualifies as a business asset.

The use of the asset other than the Lloyd's use will determine whether the asset qualifies as a business asset.