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In this article for Tax Journal, we comment on the
Government's latest announcement in relation to carried
interest and the next steps.
At the Autumn Budget 2024 the Government announced that the
carried interest tax regime would be reformed so that from 6 April
2026 carried interest receipts will be exclusively taxed within the
income tax and NICs regime as receipts of a deemed trade carried on
by the relevant executive. Importantly, however, qualifying carried
interest receipts will be subject to a multiplier of 72.5% so that
additional rate taxpayers will pay an overall 34.1% effective rate
of income tax and NICs.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
