Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Advising definition

What does Advising mean? Advising, in financial services practice, means giving a client (or their agent) a recommendation on the merits of buying, selling, subscribing for, underwriting or exercising rights in a specific investment. In the UK (England & Wales, Scotland and Northern Ireland), this is the regulated activity of advising on investments under article 53 of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001. It captures advice given to a person as an investor or potential investor, or as agent for one, about a particular investment. Firms must be authorised or exempt, and the activity engages...

UK income tax: determining source of income across key categories (rents, dividends, interest, employment, pensions, trading, trusts, intangible property) and its impact on residence, remittance and double tax relief

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Practice notes

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When Advising an individual on cross-border or offshore tax planning, it is essential to determine the ‘source’ of income received by or on behalf of that person. This Practice Note outlines why ‘source’ matters for income tax and explores what it means in this context. The income tax charge applies only to particular kinds of income under distinct charging provisions within the income tax acts. Accordingly, when identifying source, regard must be had to each distinct category of income. The Charges to income tax—tables sets out a summary of the charges for each category and the legislative provisions relevant to that charge.

What is the meaning of source of income?

‘Source of income’ describes where income originates or from where it is derived. Income arising in the UK has a UK source and income arising outside the UK has a non-UK (or foreign) source. The situs or location of the asset generating the return is not necessarily the source of that income. For instance, the source of dividends is determined by the residence of the paying company rather than where the Shares are registered (for the situs of shares, see Practice)...

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Web page updated on 21/05/2026

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