In Chapter 3, page 15 it states that until 30/06/09 that UK dividends were not tax exempt for Lloyds market participants. Its states that from 01/07/09 dividends are now exempt (in line with other UK GI companies). However the end of chapter summary says that UK dividends are taxable for members of syndicates. Are the notes wrong, or am I interpreting them in an incorrect way? Thanks in advance.
Well spotted! Most UK and overseas dividends are tax exempt for corporate members. Thanks for pointing this out and sorry if it confused you. I’ll get the summary changed.
