Section 103KA | Carried interest ^F1F2

(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).