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<p>The capital gains tax treatment of carried interest is long-standing and is consistent
with international practice. The government announced legislation at Summer Budget
to ensure that managers pay at least the full rate of capital gains tax on their economic
gain from carried interest.</p><p> </p><p> </p><p> </p><p>The government is also consulting
on proposals to ensure that this capital gains tax treatment is only accessible by
individuals who manage funds carrying on genuine long-term investment activity and
not more widely.</p><p> </p>
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