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,...

Business rates (NNDR): legislative framework for billing, recovery, collection fund, transitional arrangements, exemptions, reliefs and multipliers, with reforms under NDRA 2023 and NDR(MPS)A 2025

Published by a LexisNexis Local Government expert

Practice notes

National non-domestic rates (NNDR)

This Practice Note sits within a broader series on NNDR. It sets out the legislative framework for billing and recovery, explains the collection fund, and outlines transitional reliefs and exemptions operating within the system, addressing periods both before and after the pandemic. For more on other facets of the NNDR scheme, see the following Practice Notes:

National non-domestic rates—valuation and appeals
National non-domestic rates—business improvement district, business rate supplements and retention
Liability for business rates

Currently, local authorities collectively keep half of business rates income. The remainder is paid to central government, which then uses it to fund grants for local authorities. For the 2023–24 financial year, authorities project non-domestic rating income of £25.1bn—representing what they expect to collect after allowing for all reliefs, accounting adjustments and amounts retained outside the rates retention scheme. They also estimate awarding £7bn in business rates relief during 2023–24...

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Alan Murdie

Council Tax Legal Services

Alan Murdie is a specialist in council tax, housing and debt law issues dating back to 1989, including many test cases in the lower and higher courts. He is director of Council Tax Legal Services and Nucleus Legal Advice in Earl's Court, London. He has been involved with the Council Tax since its inception in 1992, editing eight editions of the Council Tax Handbook since 1998 and co-author of The Enforcement of Local Taxation (2001) with Ian Wise QC. He was a co-founder of the Zacchaeus 2000 Trust in 1996 and its senior lawyer between 2007-2013 and worked with the Ministry of Justice and Welfare Bill Committees in Parliament on law reforms. He taught intellectual property at the University of West London 1995-1998 and provides advice and training services to a wide range of public sector bodies, companies and charitable...

Web page updated on 21/05/2026

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