Press release
30 October 2024
Commenting on changes to carried interest, Amanda Tickel, head of tax and trade policy at Deloitte, said:
“The industry will welcome the government’s recognition of the importance of preserving the UK’s competitive position as a global asset management hub.
“Whilst the increase in the headline tax rate on carried interest – from 28% to 32% from April 2025 – is towards the higher end compared to other key private capital hubs, it does provide welcome certainty for the industry in the short term.
“However, what does remain uncertain are the qualifying conditions that will be required to be met in order to access the effective tax rate of c.34% from April 2026. The new regime could create challenges for existing funds and those with an internationally mobile talent base, so the proposed consultation will be very important to avoid any unintended consequences.”
@DeloitteUK for live comment
Deloitte spokespeople
Deloitte has a range of spokespeople available to comment on today’s Autumn Budget. They can be reached on 0207 303 5054 or one of the following numbers:
• Ian Stewart – chief economist (07774 337 581)
• Amanda Tickel – head of tax policy (07825011798 / 07768178264)
• Rachel McEleney – personal tax (07825011798)
• Mark Outtrim – business rates (07774 337581)
• Ed Roddis – public sector (07785 682226)
• Toby Price – stamp duty (07990 434703)
• Leila Jiwnani – hospitality and leisure (07824 895798)
• James Clare – carried interest (07586 511104)
• Anthony Massey – energy tax (07774 337581)
About Deloitte
In this press release references to “Deloitte” are references to one or more of Deloitte Touche Tohmatsu Limited (“DTTL”) a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see deloitte.com/about for a detailed description of the legal structure of DTTL and its member firms.
Deloitte LLP is a subsidiary of Deloitte NSE LLP, which is a member firm of DTTL, and is among the UK's leading professional services firms.
The information contained in this press release is correct at the time of going to press.
For more information, please visit www.deloitte.co.uk.