Part 4: Income tax, corporation tax and capital gains tax Section 43: Carried interest Summary
This section changes the way that investment fund managers who receive carried interest compute their chargeable gains. When carried interest arises on or after 8 July 2015 the gain will normally be equal to the sum received. Deductions will be allowed only for actual acquisition costs paid in the form of money (and not as money's worth) and for amounts previously taxed as earnings.