Section 103KA — Taxation of Chargeable Gains Act 1992: Carried interest

Carried interest 103KA 1 This section applies where—

a an individual performs investment management services directly or indirectly in respect of an investment scheme under any arrangements, and b the individual is entitled to carried interest under the arrangements.

2 Any gain or loss accruing to the individual by virtue of the individual’s entitlement to carried interest is treated as not accruing.

3 In this section “ arrangements ”, “ carried interest ”, “ investment scheme ” and “ investment management services ” have the same meaning as in section 23I of ITTOIA 2005 (see section 23R of and Part 1 of Schedule A1 to that Act).