Textual Amendments
F1Pt. 13 Ch. 5F inserted (with effect in accordance with s. 37(4) of the amending Act) by Finance Act 2016 (c. 24), s. 37(2)
(1)“Income-based carried interest” is the relevant proportion of a sum of carried interest arising to an individual from an investment scheme.
(2)The relevant proportion is determined by reference to the investment scheme's average holding period as follows.
| Average holding period | Relevant proportion |
|---|---|
| Less than 36 months | 100% |
| At least 36 months but less than 37 months | 80% |
| At least 37 months but less than 38 months | 60% |
| At least 38 months but less than 39 months | 40% |
| At least 39 months but less than 40 months | 20% |
| 40 months or more | 0% |
(3)This section is subject to the following provisions of this Chapter.]