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Overview

What is the scope of this guidance?

TCGA92/S103KA � S103KH

This guidance:

• explains the background to the rules for carried interest subject to capital gains tax;
• explains how the rules apply to carried interest gains in a variety of situations; and
• contains examples to help with your understanding of those rules.

The carried interest rules are set out in Chapter 5 of Part 3 of the Taxation of Chargeable Gains Act 1992 (TCGA), from sections 103KA to 103KH.

This guidance does not explain how amounts of carried interest that are “Income Based Carried Interest� are subject to tax. Guidance on that subject begins at IFM38000 (reference currently not active - manual awaiting completion).