Plans announced in yesterday's Pre-Budget Report 2006 could prove key in stemming the exit of companies from the Lloyd's market in favour of more tax efficient domiciles.
The report said that, following the meeting of the Chancellor's High Level Group on 18 October, a review was underway to look at modernising Lloyd's market practice.
It added that to support this process, the government would introduce legislation to address an anomaly in the tax framework for Lloyd's corporate members.
