This glossary provides an explanation of terms and abbreviations found on this site and are common terms within the Financial community. It is by no means comprehensive, so if there is any further explanation required or any other term you would like defined, please enquire.
AIC - Association of Investment Companies
AIF - Authorised investment Fund
AIFM - Alternative Investment Fund Managers
AIFMD - Alternative Investment Fund Managers Directive
AIMA - Alternative Investment Management Association
AMAP - Approved Mileage Allowance Payment
ART - Additional rate income tax (UK)
AUT - Authorised Unit Trust (UK)
BAS - Business Advice Service (ICAEW)
BN - HMRC Budget News Release
BRT - Basic rate income tax (UK)
BVCA - British Venture Capital Association
CASC - Community Amateur Sports Club
CATT - Central Agent Authorisation Team
CCCTB - Common consolidated corporate tax base
CCF - Common Contractual Fund (Dublin)
CFA -Committee on Fiscal Affairs
CGT - Capital Gains Tax
CIS - Collective Investment Schemes Sourcebook - pre 19/04/2006
COIHC - Closely-owned Investment Holding Companies
COLL - Collective Investment Schemes Sourcebook - from 19/04/2006
CP - Consultation Paper
CT - Corporation Tax
CTA - Corporation Tax Act 2010
CTF - Child Trust Fund
CISX - Channel Islands Stock Exchange
CPEC - Convertible Preferred Equity Certificate
CPI - Consumer Price Index
CPMA - Consumer Protection and Markets Authority
CSG - Cost Sharing Group
DTA/DTT - Double Taxation Agreement/Double Taxation Treaty
DTTP - Double Tax Treaty Passport Scheme
EC - European Commission
ECJ - European Court of Justice
EEA - European Economic Area
EIS - Enterprise Investment Scheme
e-MDF - e-Markets Disclosure Facility
EPUT - Exempt Unauthorised Property Unit Trust
ESC-C16 - Extra-Statutory Concession
ESMA - European Securities and Markets Authority
EU - European Union
EUSA - EU Savings Agreement
EUUT - Exempt UK unauthorised unit trust
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 - Fellow of the Institute of Chartered Accountants
FCO - Foreign & Commonwealth Office
FCP - Fonds commun de placement - Fund invested in stocks, bonds and/or money-market securities
FD - Financial derivative instruments
FHL - Furnished Holiday Letting
FRS - Flat Rate Scheme
FSA - Financial Services Authority
FSMA - Financial Services and Markets Act 2000
FTT - Financial Transaction Tax
FTWA - Full-time work abroad
GAAP - Generally Accepted Accounting Principles
GDO - Genuine diversity of ownership
GPUT - Guernsey Property Unit Trust
HMRC - Her Majesties Revenue and Customs
HMT - Her Majesty's Treasury
HRT - Higher rate income tax (UK)
Holdco - Holding Company
ICAEW - Institute of Chartered Accountants of England and Wales
ICTA - Income and Corporation Taxes Act
IFRS - International Financial Reporting Standards
IGA - Intergovernmental Agreement
IHT - Inheritance Tax
IMA - Investment Management Association
IOD - Institute of Directors
IRS - Internal Revenue Service (USA)
ISA - Individual Savings Account
ITA - Income Tax Act 2007
ITC - Closed-ended Investment trust company
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
LA - UK Listing Authority
LEL - Lower Earnings Limit
LDF - Liechtenstein Disclosure Facility
LLP - Limited liability partnership
LP - Limited partnership
MCP - Management Company Passport
MOU - Memorandum of understanding
NAV - Net asset value
NIC - National Insurance Contribution
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
OTS - Office of Tax Simplification
PAIF - Property Authorised Investment Fund
PAYE - Pay As You Earn (Tax)
PFPV - Pension Fund Pooling Vehicle
PPI - Payment Protection Insurance
PPL - Profit-participating loan
PRA - Prudential Regulation Authority
PT - Primary Threshold
PUT - Property Unit Trust
QEF - Qualifying Electing Fund
QIF - Qualifying Investor Fund (Dublin)
QIS - Qualified Investor Scheme (UK)
QNUPS - Qualifying Non UK Pension Scheme
QROPS - Qualifying Recognized Overseas Pension Scheme
QTD - Qualifying Time Deposit (account)
RBC - Remittance Basis Charge
RDR - Retail Distribution Review
REIT - Real Estate Investment Trust
RPI - Retail Price Index
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
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
SPV - Special Purpose Vehicle
SRO - Self-Regulating Organisation
SRT - Satutory Residence Test - statutory definition of UK tax residence
ST - Secondary Threshold
TCF - Treating Customers Fairly
TCGA - Taxation of Chargeable Gains Act 1992
TCUP - Tax Catch Up Plan
TEF - Tax Elected Fund
TIEA - Tax Information Exchange Agreement
TLPI - Traded Life Policy Investment
TNRF - Transparent non-reporting fund
TRF - Transparent reporting fund
UCITS - Undertakings for Collective Investment in Transferable Securities
UK - United Kingdom
US - United States
US 40 - United States Regulated Investment Companies (known as 40 Act Funds)
UTR - Unique Taxpayer Reference
VAT - Value added tax
VCIC - Open-ended Variable Capital Investment Company (Dublin)
WHT - Withholding tax
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