CIRD00520 | Introduction to manual: abbreviations used

The following abbreviations are used in the CIRD manual:

• CAA - Capital Allowances Act

• CG/CGT - Capital Gains/Capital Gains Tax

• CT - Corporation Tax

• CTA - Corporation Tax Act

• DTI - Department of Trade and Industry

• EC - European Commission

• EU - European Union

• FA - Finance Act

• FRS - Financial Reporting Standards

• GAAP - Generally accepted accounting practice

• HMRC - HM Revenue & Customs

• IAS - International Accounting Standards

• ICTA - Income & Corporation Taxes Act

• IFRS - International Finance Reporting Standards

• IRU - Indefeasible rights to use telecommunications cable systems

• ITEPA - Income tax (Earnings and Pensions) Act

• ITTOIA - Income tax (Trading and Other Income) Act

• LB - Large Business

• R&D - Research and development

• RDEC - Research and Development Expenditure Credit

• SME - Small or medium size enterprise

• SSAP - Statement of Standard Accounting Practice

• TIOPA - Taxation (International and Other Provisions) Act

• UK - United Kingdom

• VAT - Value added tax

• VRR - Vaccine research relief