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HMRC internal manual

VAT Finance Manual

HM Revenue & Customs
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Glossary of terms: A

Abandon To allow an option to expire worthless.
Acceptance Agreement of intention to carry out a transaction; the signed acceptance by the drawee of a Bill of Exchange to the order of the drawer (creditor).
Acceptance Commission A charge made by a bank or Accepting House for the use of its name as an Acceptor on Bills of Exchange.
Accepting House Company/bank specialising in cashing bills drawn upon it under credit established by, or in favour of, approved customers.
After Hours Dealing Dealing done after the mandatory quote period, which is treated as dealing done on the following business day.
Allotment Letter See Renounceable Documents
Alternative Investment Market (AIM) The London Stock Exchange’s market for smaller and growing companies. The market began trading in June 1995.
American Depository Receipt (ADR) A secondary security based on an underlying right to a certain value of stock, bonds etc., held by an American depository. The documents can be traded as securities.
American Style Option An option exercisable at any time during its life.
Annual General Meeting (AGM) Meeting of shareholders which a company must call every year.
APCIMS Association of Private Client Investment Managers and Stockbrokers.
Arbitrage Buying securities and other instruments in one country, currency or market and selling in another to take advantage of price differences.
Asset Swap See Sub Participated Loans, Sub Underwriting, Syndicated Loans and Synthetic Securities.
Authorisation Fees Fees charged by self-regulatory bodies and recognised professional bodies.
Authorised Corporate Director (ACD) Has responsibility for investment management, sale and purchase of shares in an open-ended investment scheme (OEIC) to and from investors etc.
Automated Teller Machine (ATM) A ‘cash point’.