Finance Act

(redirected from Finance Act 1991)

Finance Act

Annual legislation in the United Kingdom making changes to the tax structure. The Finance Act may raise or lower taxes or provide tax incentives for various reasons, depending on the government's financial needs. The Finance Act is passed as part of the budget process each year.
References in periodicals archive ?
The Corporate Assets Tax was levied in Finance Act 1991 as a one-time levy payable by a company on its value of fixed assets held on a specific date.
During the 1991 Gulf war the Conservative government introduced specific legislation in section 46 of the Finance Act 1991 to give similar relief to expats in Iraq and Kuwait.