Clause 39 - Payments to farmers under the lump sum exit scheme etc

Part of Finance (No. 2) Bill – in a Public Bill Committee at 2:45 pm on 16 May 2023.

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Photo of Victoria Atkins Victoria Atkins The Financial Secretary to the Treasury 2:45, 16 May 2023

On amendment 8, I had read out that it seeks to refine the calculations of carried interest for the purposes of clause 42. It modifies the calculation methodology so that it also works in circumstances where managers are entitled to more carried interest if investors receive fund profits earlier. That will mean that the measure will better deliver in practice the opportunity to claim relief from double taxation on carried interest, as intended.