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ACCA Strategic Professional · Advanced Taxation (UK) · Tax administration and the UK tax system

A Finance Act 2025 provision is stated to take effect from a future date that falls after the date of an ATX-UK exam sitting within the June 2026 to June 2027 period. How does ACCA's guidance on prospective legislation apply?

Such a provision is normally not examined until it actually takes effect. ACCA applies this rule to prospective legislation in the Finance Acts and also to effective dates of provisions introduced by statutory instrument, so Royal Assent alone does not make it examinable.

  1. AThe provision is normally not examined until it actually takes effectCorrect
  2. BThe provision is examined as soon as the Act receives Royal Assent
  3. CThe provision is examined only in Section B questions
  4. DThe provision is examined only if it is introduced by statutory instrument

Explanation

ACCA says that where provisions in the Finance Acts only take effect at a future date, they will not normally be examined until they actually take effect. The same rule applies to the effective date of provisions of an Act introduced by statutory instrument. Royal Assent alone is therefore not enough.

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