Many vertical IGBT models are currently available. They have also been implemented in commercial simulators and describe device behavior both in steady-state and transient. However, no reliable device models have been proposed for the Lateral IGBT that is widely used in the field of smart power integrated circuits. In this paper a complete physical model for the Lateral IGBT fabricated in Silicon On Insulator technology is developed. The model is implemented in Pspice circuit simulator. Model results are compared against finite element device simulation. A comparison with the most common vertical IGBT Pspice model shows that vertical IGBT models are not able to correctly predict lateral IGBT behavior