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ACCA Applied Skills · Taxation (UK) · Principal sources of revenue law and practice

Which of the following statements about the Finance Act examined in TX-UK is correct for an exam sitting in September 2026?

The Finance Act 2025 is examined. TX-UK exams from 1 June 2026 to 31 March 2027, and in June 2027, examine that Act, which received Royal Assent on 20 March 2025, so a September 2026 sitting falls within that period.

  1. AThe Finance Act 2025 is examined, as it is the latest Finance Act and the exam falls within the period 1 June 2026 to 31 March 2027Correct
  2. BThe Finance Act 2026 is examined, because it is passed in the same year as the exam
  3. CThe Finance Act 2024 is examined, because exams always examine the Act from two years earlier
  4. DAny Finance Act that has been announced in a Budget is examined, whether or not it has received Royal Assent

Explanation

Exams falling in the period 1 June 2026 to 31 March 2027 and in June 2027 examine the Finance Act 2025, which received Royal Assent on 20 March 2025. September 2026 falls within that period. The option naming the Finance Act 2026 is wrong because exams in this period examine the Act passed in the previous year, not the current year's.

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