The newly reformed tax on carried interest will subject carried interest to the payments on account regime. Ceinwen Rees and Frankie Beetham (Kirkland & Ellis) set out some of the key practical considerations.
HM Treasury’s recent policy update on carried interest (The tax treatment of carried interest: Government response and policy update 5 June 2025) confirmed that under the new regime carried interest will be relevant in calculating an individual taxpayer’s liability to make payments on account which HMRC describe as ‘payments towards your next tax bill’.
Conceptually this makes sense. The new regime will treat carried interest as trading profit and other types of trading profit already fall within the payments on account rules. HMRC...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
The newly reformed tax on carried interest will subject carried interest to the payments on account regime. Ceinwen Rees and Frankie Beetham (Kirkland & Ellis) set out some of the key practical considerations.
HM Treasury’s recent policy update on carried interest (The tax treatment of carried interest: Government response and policy update 5 June 2025) confirmed that under the new regime carried interest will be relevant in calculating an individual taxpayer’s liability to make payments on account which HMRC describe as ‘payments towards your next tax bill’.
Conceptually this makes sense. The new regime will treat carried interest as trading profit and other types of trading profit already fall within the payments on account rules. HMRC...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
.tmb-editorspic.jpg?sfvrsn=c9a7a0cc_1)
