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’ then existing expectations of its recovery.
Those expectations were achieved through a system of ‘shadow ACT’, which allowed companies to recover past surplus ACT within prescribed limits.
For further details of ACT, see COM153000 onwards.