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,...

UK tax: Ordinary residence before 6 April 2013—definition, key cases, relationship with residence, and FA 2013 transitional savings for remittance basis and related reliefs (2013–2016)

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Practice notes

ARCHIVED: This PrACTice Note has been archived and is not maintained.

This Practice Note was first prepared by Simon Goldring and Ben Harle and is now overseen by Lexis®PSL Private Client. Until 6 April 2013, “ordinary residence” existed as a separate notion from residence and Domicile for UK tax. It lacked a statutory definition; its scope derived from everyday usage and judicial authority, rather than any express statutory wording. Broadly, a person was ordinarily resident in the UK where their presence here was habitual rather than incidental. The Finance Act 2013 (FA 2013) abolished the ordinary residence concept, substituting references to residence with effect from 6 April 2013, as part of the Government’s drive to streamline the tax regime and reduce uncertainty within the system. For more information, see the Abolition of ordinary residence from 6 April 2013 and transitional rules to 5 April 2016 [Archived] Practice Note. To cushion the impact of this change, the government introduced savings provisions so that individuals who had benefited from the ordinary residence concept would not be disadvantaged immediately on its repeal. Put simply, an individual was regarded as ordinarily resident where their UK residence was typical and not merely casual...

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Web page updated on 22/05/2026

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