Autumn Budget 24: Carried interest rates hiked to 32% in blow to private equity bosses

From current 28% level

Capital gains tax rates on carried interest will be hiked to 32% from April next year, ahead of a further set of reforms from April 2026, the chancellor said in her Budget speech in parliament today (30 October).

The tax rate on ‘carried interest', which represents the portion of profits that private equity managers receive from successful deals, currently stands at 28%.  In a call for evidence outcome document published alongside the Budget, the government said that beyond initial changes to the applicable CGT rates, it also intends to introduce a revised tax regime for carried interest.  Autumn Budget 24: Government to raise taxes by £40bn to plug UK "The result will be a regime which is simpler, fairer and more stable – ensuring that fund managers pay their fair share of tax while recogn...