CG17941 - Taper relief: business asset: lloyd's ancillary trust funds

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.