irrecoverable advance corporation tax

Formerly, advance corporation tax paid that could be set against the current year's gross corporation tax (GCT) or carried back against GCT arising on profits for the accounting periods beginning in the preceding six years, as it exceeded the maximum set-off available. Advance corporation tax was abolished with effect from 1 April 1999.

Accounting dictionary. 2014.

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  • Advance-fee fraud — African sting An advance fee fraud is a confidence trick in which the target is persuaded to advance sums of money in the hope of realizing a significantly larger gain.[1] Among the variations on this type of scam are the Nigerian Letter (also… …   Wikipedia

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