A
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ACT
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ACT stands for Advance Corporation Tax.
Where a company pays a dividend or other qualifying distribution, it has to make an advance payment of CT. This ACT is calculated by reference to the amount or value of the distribution made.
Full details about ACT are contained in the Company Taxation (CT) Manual.
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Active
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A computer term used to denote that when you are in an active mode in any function, you can enter and amend data, and give positive instructions to the computer.
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Active Version
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When applied to a Work List, means that you can do all that the ‘View’ version allows you to do, and also work the cases entered on the list.
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Administrative receivership
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An administrative receivership is where an administrative receiver (known in Scotland as a receiver) is appointed by a debenture holder or holders. The appointment is to control the whole or a major part of a company’s assets and property for the benefit of a second creditor.
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Administration
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A company administration order is an order of the Court directing an insolvency practitioner, called the Administrator, to manage the affairs of a company.
For further information see INS3000 of the Insolvency (INS) Manual (Arrangements and company administration).
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Administration order
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A company administration order is an order of the Court directing an insolvency practitioner, called the Administrator, to manage the affairs of a company.
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Agent
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The term 'agent', means an accountant, auditor, solicitor, group tax department, or some other person or firm who
- Prepares returns or accounts for a company
- Advises or acts for it in tax matters
The term does not include
- An administrator, liquidator or receiver
- Any other person or body who has a different relationship with the company from that of accountant or tax adviser
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Agent Identity / Agent ID
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The unique code, by which an agent is known to the computer. The Agent ID is entered on the company’s computer record, instead of the name, address and telephone number of the agent concerned.
The code will be in one of the following formats
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AP status
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The AP status will be
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Automatic
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In computer terms, automatic distinguishes between an activity that the computer initiates and carries out by itself (that is automatically), and an activity initiated by the operator using the keyboard (that is manually).
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B
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BACS
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BACS is an automated service provided by BACS Ltd to its member banks. It avoids the need for handling cheques or cash when making payment.
BACS payments are transferred electronically into the Revenue account with the Bank of England. The bank notifies the Accounting & Payments Service (A&PS) of payments on magnetic tape.
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Bank Giro
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Bank Giro is a credit transfer system that enables payment to be made through a bank branch. Each payment is credited to an Inland Revenue Bank Giro account with the Bank of England. The target bank account is indicated on the payslip. Each account is associated with either A&PS Shipley or Cumbernauld.
The Bank of England notifies A&PS of the credits received each day in each Bank Giro account. The credits are notified mainly on magnetic tape but a small proportion is notified on paper.
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BROCS
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BROCS stands for Business Review of the Collection Service. A separate BROCS system is maintained in A&PS Shipley and Cumbernauld. The BROCS system holds accounting information about employers relating to PAYE and Class 1 National Insurance Contributions.
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Buttons
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In COTAX, various labelled ‘buttons’ are shown on screens. These are normally at the bottom of the screen. They are used to do many things, for example
- To complete actions
- Move to other functions
- To go back to a previous screen
- To abandon a function
- To call up COTAX System Help (COSH). The [Help] button is available on most COTAX screens
You normally select a button by moving the mouse pointer on to the button and clicking the left mouse button.
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C
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Capture
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The entry into the computer of data from an external source on which work is to be done. For example the ‘capture’ of information provided in CT return forms.
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Certificate of Tax Deposit
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The Certificates of Tax Deposit (CTD) scheme enables a company to make payments which the Government holds as deposits against future tax liabilities. Only CTDs purchased before 1 October 1993 can be used in settlement of COTAX liabilities.
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CHAPS
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Clearing House Automated Payment System (CHAPS) is a facility offered by banks for arranging same day payment and is normally used for paying larger amounts.
Money is transferred electronically into the Revenue account with the Bank of England. The bank notifies the Accounting & Payments Service of each payment on the day of receipt.
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Company
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A company can be
- A corporate body, showing `Ltd' or `PLC' as part of its title
- An unincorporated association
Unincorporated associations can take many forms. They can include
- Members' clubs
- Trade associations
- Authorised unit trusts
- Partnerships
- Local authorities
- Local authority associations
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COTAX
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This is the name of the Company Taxation computer, introduced on 10/11/1999. COTAX
- Incorporates the continuing elements of the old CT Pay and File (CTPF) computer
- Introduces the changes needed to accommodate Corporation Tax Self Assessment (CTSA)
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CRI
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CRI stands for Centre for Research and Intelligence. Until COTAX started to receive data from Companies House and set up records for new companies automatically, CRI set the records up manually.
It was also responsible for setting up and maintaining records on the COTAX national agent file for agents with addresses abroad, but that work is now carried out by the Central Agent Authorisation Team (CAAT).
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CT
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Corporation Tax
- For a CT Pay and File AP, is the company’s mainstream Corporation Tax liability
- For a CTSA AP, is the company’s Corporation Tax liability and liabilities under S419 ICTA 1988 and S 747 ICTA 1988
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CTA
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CTA stands for Corporation Tax Assessing. This is the computer system used prior to CT Pay and File. It continued to be used for any AP ending before 1 October 1993 and various other assessments until it was decommissioned in Nov 2010.
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CTA APs
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A CTA AP is any AP which ends
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CT Pay and File AP
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A CT Pay and File AP is any AP which ends
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CT Pay and File return periods
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A CT Pay and File return period is any return period which ends
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CTPF
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The computer that supported the CT Pay and File regime for APs ending in the period 01/10/93 to 30/06/99.
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CTSA
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The Corporation Tax Self Assessment regime covering the period from 01/07/1999 onwards. Under this regime a company is required to
- Pay its CT without an assessment being raised, within 9 months and 1 day of the end of an AP
- File its return and self assessment, normally within 12 months of the end of the AP
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CTSA AP
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A CTSA AP is any AP which ends on or after 01/07/1999.
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CTSA return periods
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A CTSA return period is any return period which ends on or after 01/07/1999.
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D
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Debenture holder
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Where a company borrows or owes money, the lender or creditor, normally a bank, may secure the loan or debt by taking out a charge on the company's assets.
The charge is recorded in a legal document called a debenture and is registered with the Registrar of Companies.
A debenture is issued by a company as security for the loan of a fixed sum of money or as evidence of a debt. The debenture contains a promise to pay the amount recorded in it together with commercial interest. The lender or creditor becomes a secured creditor and is known as the debenture holder.
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Delivered
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A return must be physically received in a network office before it is regarded as delivered.
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Display resolution
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The term used to describe the quality and size of the picture shown on a computer screen.
The standard setting on I2K machines is 800x600 pixels, which provides a clear sharp picture, but means that mainframe computer services, originally programmed for displays of 640x480 pixels, only take up about three quarters of the available screen space.
The use of a display resolution of 640x480 pixels for COTAX means that the window fills the whole screen, and the displayed image is larger.
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I
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Icon
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An Icon is a graphical representation, or picture, used to demonstrate specific aspects or functions within the system.
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Identity (Id)
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In computer terms, the name or code by which an operator is known to the computer.
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IDMS
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IDMS stands for the Integrated Debt Management System. It has a number of features that make debt management more effective and consistent. It includes the automated computer support for recovery and enforcement processes.
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Incorporation
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The formation of a company, in accordance with the rules set out in the Companies Acts, or other legislation.
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Incorrect return
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There are various references in the Taxes Acts to the requirement to make a return, and to the penalties that may ensue for making an incorrect return.
There is no definition in the Acts of ‘incorrect’, and it is therefore deemed to take its dictionary definition
For more information see the Enquiry Manual (EM) and the Risk Intelligence and Analysis Manual (RIAM).
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ITSA
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ITSA stands for Income Tax Self Assessment. For more information on ITSA see the SA Manual (SAM).
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M
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Management Unit
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For local administration purposes, the computer system controlling access to the COTAX system is set up as follow
- All users are set up at this level, and given an identity
in ‘their’ office
- Management Unit (MU) Level
- Users are allocated to management units as required
to enable access to the mainframe systems covered by the
Roles and Access systems
- Dependant upon its size and responsibilities, an office
may consist of a single or several management units
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Manual
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In computer terms, manual distinguishes between an activity initiated by you the operator, using the keyboard (that is manually), and an activity that the computer initiates and carries out by itself (that is automatically).
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Marginal Small Companies Relief
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Relief calculated on a sliding scale where the company’s profits fall between the Lower Relevant Maximum Amount (LRMA) and the Upper Relevant Maximum Amount (URMA). See Section 13 ICTA 1988.
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Menu
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In computer terms, a list of options or functions from which you make a selection.
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Missing / alleged payment
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A company or agent may receive an application for payment, but believe that the liability has already been paid.
When the company or agent claim this, and the payment is not shown on their record, the payment is known as a missing / alleged payment.
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O
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OAS reference number
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The OAS reference number is a 9 character reference allocated to any payment for which an OAS record has been opened.
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The Official Receiver
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An official of the Insolvency Service which is a part of the Department of Trade and Industry.
He / she normally deals with companies that have no realisable assets, and therefore no attraction for professional insolvency practitioners.
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Offline
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In computer terms, means that there is no direct access to the computer using the keyboard.
When used to describe a particular function, it indicates that the process is automatic, as opposed to ‘online’, where the process is under your control as the operator.
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Oil and gas companies
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Oil and gas companies are those companies involved in the exploration and development of oil and gas resources within the UK, its territorial waters or the UK continental shelf.
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Online
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In computer terms, means that there is direct access to the computer, using the keyboard.
When used to describe a particular function, it indicates that the process is under your control as the operator, as opposed to ‘offline’, where the process is automatic.
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On screen button
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In COTAX, various labelled ‘buttons’ are shown on screens. These are normally at the bottom of the screen. They are used to do many things, for example
- To complete action
- Move to other functions
- To go back to a previous screen
- To abandon a function
- To call up COTAX System Help (COSH). The [Help] button is available on most COTAX screens
You normally select a button by moving the mouse pointer on to the button and clicking the left mouse button.
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Overseas address
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An overseas address is one which is not within the United Kingdom, Isle of Man or Channel Islands.
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P
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Parent Company
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A parent company owns a majority of the shares of a subsidiary company.
The computer system has no way of checking the precise relationship between companies. You must decide the reference of the parent company that applies to your particular situation.
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Password
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In computer terms, a method of checking that you are an authorised user of the computer. Passwords are changed at regular intervals for security reasons.
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Paymaster
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Paymaster payments are payments that the Office of HM Paymaster General transfers direct into the Revenue bank account.
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Pixels
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Pixels are the phosphorescent dots displayed on a computer screen, which merge to form the displayed ‘picture’. The more pixels there are on screen, the sharper the image, but to sharpen the image it is reduced in size in the display.
It follows that while a display of 800x600 pixels may strictly be sharper and clearer than one of 640x480, it is also smaller and potentially not as comfortable in use.
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Profits
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Profits are profits chargeable to CT, plus Franked Investment Income received other than from a company in the same group.
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S
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SA enquiry
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An SA enquiry is an enquiry by an Inspector, into the self assessment return of the company, for a CTSA AP.
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Screen
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In computer terms, used to describe what is visible on the screen of your computer at any one time, and also to describe a display, only part of which is visible at any one time.
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Scroll
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In computer terms, to move the visible screen vertically or horizontally, in order to display further information.
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Served (Notice To File)
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A notice is deemed to be served on a company on the fourth working day after it has been posted, unless evidence to the contrary is provided.
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Single Point Sign On
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The mechanism whereby a single action of user authentication and authorisation permits access to all computers and systems to which that user has access permission, without the need to enter multiple passwords.
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Sorting
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Applied to Work Lists, this is a facility that allows you to rearrange the content into a more convenient order, for your particular purpose.
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Substitute return
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Until 1 July 2010, COTAX issued a blank return form with a Notice to Deliver if
- The company record did not hold agent details for the specified period
- The Substitute Return signal was set to ‘N’
A list of centrally approved substitute return forms is available on the intranet. This list is updated on a regular basis.
Note: From 1 April 2011 onwards, all companies and organisations must submit their Company Tax Returns online for any accounting period ending after 31 March 2010.
In preparation for the change from paper to online, HMRC stopped issuing blank paper return forms and guidance notes (forms CT600 & CT600 Guide) with the Notice to deliver a Company Tax Return (form CT603) from 1 July 2010. You no longer need to maintain the Substitute Return signal.
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U
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Unincorporated associations
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Unincorporated associations are bodies not incorporated under the UK Companies Act but which are liable to CT, for example clubs and voluntary associations.
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Update
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A computer term used to denote that when you are in update mode in any function, you can enter and amend data, and give positive instructions to the computer.
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User roles
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A user role reflects a particular job, and gives access to functions used to do that job.
Each office is allocated the user roles needed to perform its business.
Your Office Manager will allocate the user role(s) you need to do your work.
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UTR
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A UTR (Unique Taxpayer Reference) is a unique set of 10 numerals allocated automatically by the computer when a company is set up.
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