Taxation of Chargeable Gains Act 1992 Schedule 4ZZB paragraph 26

Interpretation

Paragraph 26 of Schedule 4ZZB provides definitions and interpretation rules for the key terms used throughout the schedule dealing with returns allowance and carried interest.

• This paragraph serves as the glossary for Schedule 4ZZB, defining the specialised terms that appear throughout its provisions.
• It ensures that terms such as "carried interest," "investment scheme," "fund," and related expressions are given consistent and precise meanings when applying the schedule's rules.
• The definitions align with those used in related tax legislation, particularly provisions introduced by the Finance Act 2019 concerning the taxation of carried interest arising from investment management activities.
• Practitioners should refer to this paragraph whenever they encounter defined terms elsewhere in the schedule, as the specific meanings may differ from their ordinary or general tax usage.