Article 9Z11 Activities incidental to the carrying on of a profession or businessF1

(1)

There is excluded from this Chapter activity where that activity (“the incidental activity”)—

(a)

is carried on in a manner that is incidental to the carrying on of a profession or business, and

(b)

does not itself constitute the carrying on of a regulated activity.

(2)

For the purposes of paragraph (1)(a), an activity is carried on in a manner that is incidental to the carrying on of a profession or business where the following apply—

(a)

a close factual connection exists between the carrying on of the profession or business and the incidental activity, such that the incidental activity may reasonably be regarded as a necessary ancillary to the carrying on of the profession or business,

(b)

the incidental activity does not provide a systematic source of income to the person providing the professional activity,

(c)

the person carrying on the professional activity does not market or otherwise promote their ability to provide the incidental activity, except where there are disclosed to clients as being a necessary ancillary to the carrying on of the profession or business, and

(d)

the carrying on of a profession or business is supervised and regulated by any of the bodies listed in article 2 of the Financial Services and Markets Act 2000 (Designated Professional Bodies) Order 2001.

Annotations

Textual amendments

F1: Pt. 2 Ch. 2B inserted (25.2.2026 for specified purposes) by The Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2026 (S.I. 2026/102), regs. 1(2)(3), 40(5) (with regs. 53-56)