Section 89 | Employee shareholder shares: disguised fees and carried interest

(1)In section 236B of TCGA 1992 (exemption for employee shareholder shares), after subsection (2) insert—

(2A)Subsection (1) does not apply in relation to a gain accruing on a disposal where the proceeds of the disposal, in relation to any individual, constitute—

(a)a disguised fee for the purposes of Chapter 5E of Part 13 of ITA 2007 (see section 809EZA(3) of that Act), or

(b)carried interest within the meaning given by section 809EZC of that Act.

(2)The amendment made by this section has effect in relation to gains accruing on or after 6 April 2016.