COM30010 - Background: company taxation overview: advance corporation tax

Advance Corporation Tax (ACT) was abolished with effect from 6 April 1999.

Arrangements for the use of surplus ACT, built up in the period to that date, substantially preserved companies鈥� then existing expectations of its recovery.

Those expectations were achieved through a system of 鈥榮hadow ACT鈥�, which allowed companies to recover past surplus ACT within prescribed limits.

For further details of ACT, see COM153000 onwards.