Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

ACT definition

What does ACT mean? In corporate and banking practice, ACT usually refers to the Association of Corporate Treasurers, the UK-based professional body for corporate treasury professionals, rather than a statutory “Act”. It is not defined in legislation or case law; the acronym is market terminology used in transaction documents and governance materials. The Association of Corporate Treasurers promotes professional standards in liquidity management, funding, cash and risk management, foreign exchange and derivatives. It publishes guidance and a code of ethics and awards recognised qualifications (including AMCT and FCT). In legal contexts, references to “ACT-qualified” personnel or to ACT good practice may appear in treasury policies,...

Finance Act 2015—UK parliamentary timeline, Budget and Autumn Statement measures, deferred clauses and pending drafts (Archived)

Published by a LexisNexis Tax expert

Practice notes

ARCHIVED : This Practice Note has been archived and is not maintained

This archived Practice Note, which is no longer updated, covers the Finance Act 2015 (FA 2015), which received Royal assent on 26 March 2015. It is retained for historic interest, tracing the passage of the legislation through Parliament and outlining each provision in the Act with relevant links.

The Practice Note is divided into five parts:

Progress of FA 2015
Published legislation with immediate effect—Budget 2015
Published legislation with immediate effect—Autumn Statement 2014
Published legislation taking effect later
Awaiting draft legislation

Several measures identified in Budget 2015 for FA 2015 were postponed until after the general election. The deferred clauses include:

The new statutory exemption from income tax for trivial benefits in kind, implementing an Office of Tax Simplification (OTS) recommendation from its review of employee benefits and expenses (announced at Budget 2014)
Simplifying link company requirements for consortium relief claims (announced Autumn Statement 2014) (see: Finance Act 2015—consortium relief provisions deferred)
Changes to the scheme rules for the Enterprise Investment Scheme (EIS) and Venture Capital Trusts (VCT) (announced at...

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Web page updated on 21/05/2026

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