Carry not in writing
Does anybody understand the taxation of carried interest in the UK? Recently I have been discussing an offer of a token amount of carry with a mid market PE fund but they have said they will not put this in writing immediately for "tax reasons". They are a reputable/straight forward/trustworthy but I want to get people's views on whether this is usual/unusual.
Thanks
Not uncommon in Europe - they can't have it be part of your employment contract or else it is at risk of being taxed as income rather than cap gains (stupid, I know...)
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