VATINS4305 - Insurance underwritten at Lloyd바카라 사이트™s of London: Lloyd바카라 사이트™s members: general
Members (sometimes called 바카라 사이트˜Names바카라 사이트™) underwrite insurance policies at Lloyd바카라 사이트™s under which they assume several liability (that is, each member is liable to pay his own share but not others바카라 사이트™ shares). Members can be individuals, Limited Liability Partnerships, Scottish Limited Partnerships or Limited Liability companies.
Although the members are legally the insurers, as they underwrite the insurance risks (see SOC decision in VATINS4510), for ease of administration, the supply of insurance for VAT purposes can be taken to be made by the syndicate.