The Tax Treatment of Carried Interest – Call for Evidence
Read the full outcome
Detail of outcome
At Autumn Budget 2024, the Chancellor of the Exchequer announced the government’s proposals to reform the tax treatment of carried interest. The government also launched a consultation on potential new qualifying conditions for the revised carried interest tax regime that closed on 31 January 2025. The ‘Government Response and Policy Update’ document summarises the responses to the call for evidence and sets out the government’s position. It also provides a wider update on the implementation of the revised regime following discussions with stakeholders.
Before that, an earlier call for evidence closed on 30 August 2024. The ‘Outcome’ document summarised the responses to the call for evidence and set out the government’s next steps.
Original call for evidence
Call for evidence description
On 29 July, the Chancellor of the Exchequer announced a commitment to take action in respect of the ‘carried interest’ loophole. Carried interest is a form of performance-related reward received by fund managers, primarily within the private equity industry.
This call for evidence confirms the government’s intention to take action against the carried interest loophole, and forms the basis for detailed engagement with expert stakeholders. It also sets out a series of areas where we would particularly value input from stakeholders.
Documents
Updates to this page
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5 June 2025 – Government response to consultation on qualifying conditions and policy update, following the consultation launched at Autumn Budget 2024.
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Added call for evidence outcome.
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First published.