Beta This part of GOV.UK is being rebuilt – find out what this means

HMRC internal manual

Trusts, Settlements and Estates Manual

HM Revenue & Customs
, see all updates

Ownership and income tax: income tax principles - introduction

Taxation of income is based on beneficial ownership (TSEM9130), not legal ownership (TSEM9120).

For income tax purposes, you need to know who is the beneficial owner of the income, that is, who is ‘entitled to’ the income.