Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Investment definition

What does Investment mean? In practice, investment describes an asset or bundle of rights committed in a host state with the aim of generating a return. In investor-state work, the operative definition is treaty-specific: most bilateral investment treaties (BITs) and the Energy Charter Treaty use broad, asset-based lists covering, where applicable, tangible and intangible property located in the territory, shareholdings and other equity interests, contractual rights (including concessions), intellectual property, and loans or claims to money, subject to stated carve-outs. The ICSID Convention does not define investment; tribunals assess jurisdiction by the treaty text and case law, commonly considering a contribution of resources,...

UK savings income taxation: interest, starting rate, personal savings allowance, accrued income scheme, devolution, and residence/domicile considerations

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Practice notes

The types of income chargeable to tax as 'savings and investment income' include:

interest, being income within ITTOIA 2005, ss 369–381
purchased life annuities, being income within ITTOIA 2005, ss 422–426
deeply discounted securities (DDS), being income within ITTOIA 2005, ss 427–460
income arising under the accrued income scheme
chargeable event gains on life policies for which an individual (or the personal representatives of a deceased individual) is liable to income tax

This Practice Note primarily examines how interest, the leading form of savings income, is taxed. It also addresses income falling under the accrued income scheme.

Interest can be viewed as consideration for one person’s use (or retention) of money that belongs to another. Consequently, for a payment to qualify as interest there must be an identifiable principal on which the return is computed, and both the principal and the interest must be owed to the same person.

The most familiar examples are amounts credited by banks or building societies on deposits, though companies may also pay interest. The interest will either be paid...

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Web page updated on 22/05/2026

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