IFM37110 - Overview: What is the scope of this guidance?

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).