Lobbying and reason carries the day

But four key questions remain about the treatment of carried interest after yesterday's tax-raising Budget

Rachel Reeves outside Number 11 Downing Street before delivering the Budget (Credit: Kirsty O’Connor / Treasury)

Hi Rainmakers,

In a Budget that was bigger and bolder – and more tax-raising – than the general election campaign had suggested, there was at least one element where new Chancellor Rachel Reeves held back.

The tax treatment of carried interest, a niche issue with potentially widespread ramifications, had caused industry-wide concern. Today, we delve into what was announced and what the next steps are as the Treasury gets to work on “further reforms” to be implemented for April 2026.

That might seem a while off now, but there are two more pressing deadlines for you to consider. Today is the last day to claim your 20% discount to attend the 2025 Rainmakers Conference in Manchester next March, and the entry deadline for TheBusinessDesk.com’s Leadership Awards is a week on Friday – it’s a great opportunity to raise the profile of successful management teams that you are supporting.

The details for both are below today’s Rainmakers article, which we hope will carry your interest….