Download the full outcome
Detail of outcome
A summary of responses to the consultation announced at Summer Budget on performance linked rewards paid to asset managers. This accompanies the publication of draft legislation.
Individuals who manage investment funds often receive a reward for the successful performance of the fund. This consultation to determine the tax treatment of this reward.
At Budget 2015, the the government announced that HM Revenue and Customs would consult on proposals to legislate to ensure that individuals who manage funds where the underlying activities are more aligned with trading than investing pay full Income Tax on any performance fee/carried interest they receive.