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HMRC internal manual

Tax Credits Technical Manual

Investment Income: Definition of Investment income

Definition of investment income

The Tax Credits (Definition and Calculation of Income) Regulations 2002, Reg. 10(1)Investment income means:

  • Any interest of money, whether yearly or otherwise, or any annuity or other annual payment, whether it is payable within or out of the UK, either as a charge on any property of a person paying it by virtue of any deed, or will, or otherwise, or as a reservation out of it, or as a personal debt of obligation by virtue of any contract, or whether the payment is received and payable half-yearly or at any shorter or longer period, but not including property income.
  • Any discounts on securities
  • Any income from securities payable out of public revenues of the UK or Northern Ireland
  • Dividends and other distributions of a company resident in the UK and the accompanying tax credit; and
  • Gains from life insurance policies etc., which are chargeable to income tax under Chapter 9 of Part 4 of ITTOIA disregarding section 535 (top-slicing relief).