Definitions for "Advance Corporation Tax"
When companies pay dividends to shareholders, they must also pay to the Revenue Advance Corporation Tax (ACT), effectively a payment on account of the shareholders tax due on the dividend, and the company's corporation tax.
An installment of UK Corporation tax, required under UK tax rules. It represents a minimum tax on companies that earn most of their profits overseas.
Early instalment of UK corporation tax. It forms a minimum tax on companies that earn most of their profit overseas.