Definitions for a wide range of Terms and Acronyms
Related to finance, business operations, governmental institutions, and international matters, including those relevant to foreign nationals and property owners and investors.
- ABC
- Activity-Based Costing
- AI
- Artificial Intelligence
- AEOI
- Automatic Exchange of Information
- AIA
- Annual Investment Allowance
- AIC
- Association of Investment Companies
- AIF
- Authorised investment Fund
- AIFM
- Alternative Investment Fund Managers
- AIFMD
- Alternative Investment Fund Managers Directive
- AIM
- Alternative Investment Market
- AIMA
- Alternative Investment Management Association
- AMAP
- Approved Mileage Allowance Payment
- AML
- Anti Money Laundering
- API
- Application Programmimg Interface
- APN
- Accelerated Payment Notice
- ARD
- Accounting Reference Date
- ART
- Additional rate income tax (UK)
- ATED
- Annual Tax on Enveloped Dwellings
- AUT
- Authorised Unit Trust (UK)
- BBLS
- Bounce Back Loan Scheme
- BBSI
- Bank, Building Society Interest
- BEPS
- Base erosion and profit shifting
- BRT
- Basic rate income tax (UK)
- BVCA
- Venture Capital Association
- CASC
- Community Amateur Sports Club
- CATT
- Central Agent Authorisation Team
- CBILS
- Coronavirus Business Interruption Loan Scheme
- CCCTB
- Common consolidated corporate tax base
- CCF
- Common Contractual Fund (Dublin)
- CCM
- Customer Compliance Manager (HMRC)
- CDF
- Contractual Disclosure Facility
- CEC
- Chargeable Event Certificate
- CFA
- Committee on Fiscal Affairs
- CGT
- Capital Gains Tax
- CIC
- Community Interest Company
- CIS
- Construction Industry Scheme (tax)/Commonwealth of Independent States - Countries of former Soviet Republics
- CITC
- Closed-ended Investment trust company
- CJRS
- Corona Virus Job Retention Scheme
- CJRSV3
- Corona Virus Job Retention Scheme Version 3
- CLT
- Chargeable Lifetime Transfer
- COIHC
- Closely-owned Investment Holding Companies
- COP
- Code of Practice
- CMA
- Competition and Markets Authority
- CP
- Consultation Paper
- CPEC
- Convertible Preferred Equity Certificate
- CPSE
- Commercial Property Standard Enquiry
- CPI
- Consumer Price Index
- CRS
- Common Reporting Standard
- CSG
- Cost Sharing Group
- CTA
- Corporation Tax Act 2010
- CTF
- Child Trust Fund
- CVP
- Cost-Volume-Profit
- DAC
- Directive on Administrative Co-Operation
- DOTAS
- Disclosure of Tax Avoidance Scheme
- DTA/DTT
- Double Taxation Agreement/Double Taxation Treaty
- DTTP
- Double Tax Treaty Passport Scheme
- EBT
- Employee Benefit Trust
- EC
- European Commission
- ECJ
- European Court of Justice
- EEA
- European Economic Area
- EIS
- Enterprise Investment Scheme
- ELPS
- Equitable Life Payments Scheme
- e-MDF
- e-Markets Disclosure Facility
- EPC
- Energy Performance Certificate
- EPUT
- Exempt Unauthorised Property Unit Trust
- ESA
- Employment and Support Allowance
- ESC-C16
- Extra-Statutory Concession
- ESD
- European Savings Directive
- ESMA
- European Securities and Markets Authority
- ETF
- Exchange Traded fund
- EU
- European Union
- EUSA
- European Union Savings Agreement
- EUSD
- European Union Savings Directive
- EUUT
- Exempt UK unauthorised unit trust
- FAC
- Fees and Commissions
- FACTA
- Fair and Accurate Credit Transactions Act (US)
- FAIF
- Funds of Alternative Investment Fund
- FAQ
- Frequently asked question
- FATCA
- Foreign Account Tax Compliance Act
- FCA
- Financial Conduct Authority
- FCDO
- Foreign, Commonwealth & Development Office
- FCP
- Fonds commun de placement - Fund invested in stocks, bonds and/or money-market securities
- FD
- Financial derivative instruments
- FHL
- Furnished Holiday Letting
- FPS
- Full Payment Submission
- FRC
- Financial Reporting Council
- FRS
- Flat Rate Scheme
- FSMA
- Financial Services and Markets Act 2000
- FTT
- Financial Transaction Tax
- F-tT/FTT
- First tier Tribunal
- FTWA
- Full-time work abroad
- G20
- Group of Finance Ministers and Central Bank Governors from 20 major economies
- GAAP
- Generally Accepted Accounting Principles
- GAS
- Grants and Subsidies
- GDO
- Genuine diversity of ownership
- GDPR
- General Data Protection Regulation
- GPUT
- Guernsey Property Unit Trust
- HMRC
- His Majesties Revenue and Customs
- HMO
- House in Multiple Occupancy
- HMT
- His Majesty's Treasury
- HRT
- Higher rate income tax (UK)
- Holdco
- Holding Company
- IA
- The Investment Association (formerly IMA)
- IBO
- Income Belonging to Others
- ICAEW
- Institute of Chartered Accountants of England and Wales
- ICTA
- Income and Corporation Taxes Act
- IELTS
- International English Language Testing System
- IFRS
- International Financial Reporting Standards
- IGA
- Intergovernmental Agreement
- IHS
- Immigration Health Surcharge
- IHT
- Inheritance Tax
- ILR
- Indefinite Leave to Remain - in the UK
- IOD
- Institute of Directors
- IPSE
- Association of Independent Professionals and the Self-Employed
- IR35
- Tax legislation applying to individual Contractors and Freelancers
- IRR
- Internal Rate of Return
- IRS
- Internal Revenue Service (USA)
- ISA
- Individual Savings Account
- ISO
- International Organization for Standardization
- IT
- Information Technology
- ITA
- Income Tax Act 2007
- ITEPA
- Income Tax (Earnings and Pensions) Act 2003
- ITSA
- Income Tax Self Assessment
- ITTOIA
- Income Tax (Trading and Other Income) Act 2005
- JPUT
- Jersey Property Unit Trust
- JSS
- Job Support Scheme
- KPI
- Key Performance Indicator
- KYC
- Know Your Customer
- LEL
- Lower Earnings Limit
- LDF
- Liechtenstein Disclosure Facility
- LDT
- Landfill Disposals Tax
- LISA
- Lifetime Individual Savings Account
- LLP
- Limited liability Partnership
- LP
- Limited Partnership
- LTA
- Lifetime Allowance
- Ltd
- Private Limited Company
- LTT
- Land Transaction Tax
- LTV
- Loan-to-value
- MOO
- Mutuality of Obligation
- MCP
- Management Company Passport
- MOU
- Memorandum of understanding
- MP
- Member of Parliament
- MPC
- Monetary Policy Committee
- MTD
- Making Tax Digital
- NAV
- Net asset value
- NI
- National Insurance
- NIC
- National Insurance Contribution
- NISA
- New Individual Savings Account
- Non-dom
- a UK resident whose permanent home, or domicile, is outside of the UK
- NPV
- Net Present Value
- NRB
- Nil rate band
- NRLS
- Non Resident Landlord Scheme
- NURS
- Non-Ucits retail scheme
- OECD
- Organisation for Economic Co-operation and Development
- OEIC
- Open-ended investment company (UK)
- OFR
- UK Reporting Fund Regime
- OIG
- Offshore income gain
- OI
- Other interest
- OSS
- One-Stop-Shop
- OWR
- Overseas Workday Relief
- PAIF
- Property Authorised Investment Fund
- PAYE
- Pay As You Earn (Tax)
- PET
- Potentially Exempt Transfer
- PFPV
- Pension Fund Pooling Vehicle
- PLC
- Public Limited Company
- PPE
- Personal Protective Equipment
- PPI
- Payment Protection Insurance
- PPL
- Profit-participating loan
- PPR
- Principal Private Residence
- PRA
- Prudential Regulation Authority
- PRR
- Private Residence Relief
- PT
- Primary Threshold
- PUT
- Property Unit Trust
- QEF
- Qualifying Electing Fund
- QIF
- Qualifying Investor Fund (Dublin)
- QIP
- Quarterly Instalment Payments
- QIS
- Qualified Investor Scheme (UK)
- QNUPS
- Qualifying Non UK Pension Scheme
- QROPS
- Qualifying Recognised Overseas Pension Scheme
- QTD
- Qualifying Time Deposit (account)
- R&D
- Research And Development
- RAS
- Relief at Source
- RBC
- Remittance Basis Charge
- RDR
- Retail Distribution Review
- REIT
- Real Estate Investment Trust
- RMC
- Residential Management Company
- ROPL
- Reporting on Rents and other payments arising from land
- RPI
- Retail Price Index
- RPS
- Registered Pension Scheme
- RTI
- Real Time Information
- SA
- Self-assessment
- SD
- Stamp Duty
- SDLT
- Stamp Duty Land Tax
- SDRT
- Stamp Duty Reserve Tax
- SEIS
- Seed Enterprise Investment Scheme
- SEISS
- Self-employment Income Support Scheme
- SICAV
- Open-ended collective investment scheme (Luxembourg)
- SIF
- Special Investment Fund (Luxembourg)
- SIPP
- Self-invested personal pension
- SIV
- Structured investment vehicle
- SLP
- Stock Listed Price
- SME
- Small and Medium (Medium-sized) Enterprises
- SPV
- Special Purpose Vehicle
- SRO
- Self-Regulating Organisation
- SRIT
- Scottish Rate of Income Tax
- SRT
- Statutory Residence Test - statutory definition of UK tax residence
- ST
- Secondary Threshold
- SWOT
- Strengths, Weaknesses, Opportunities, and Threats
- TCF
- Treating Customers Fairly
- TCGA
- Taxation of Chargeable Gains Act 1992
- TCUP
- Tax Catch Up Plan
- TEF
- Tax Elected Fund
- TER
- Total Expenses Ratio
- TIEA
- Tax Information Exchange Agreement
- TLPI
- Traded Life Policy Investment
- TNRF
- Transparent non-reporting fund
- TRF
- Transparent reporting fund
- TRS
- Trust Registration Service
- TTP
- Time to Pay arrangement (HMRC)
- UCITS
- Undertakings for Collective Investment in Transferable Securities
- UK
- United Kingdom
- UKVI
- UK Visas and Immigration
- US
- United States
- US 40
- United States Regulated Investment Companies (known as 40 Act Funds)
- USM
- Unlisted Securities Market
- UT
- Upper Tribunal
- UTR
- Unique Taxpayer Reference
- VAT
- Value Added Tax
- VAT MOSS
- Value Added Tax: Mini One Stop Shop
- VCIC
- Open-ended Variable Capital Investment Company (Dublin)
- VCT
- Venture Capital Trust
- WDA
- Writing Down Allowance
- WHT
- Withholding tax