Clause 14 - Qualifying Asset Holding Companies

Part of Finance (No. 2) Bill – in a Public Bill Committee at 10:00 am on 14 December 2021.

Alert me about debates like this

Photo of Alison Thewliss Alison Thewliss Shadow SNP Spokesperson (Treasury) 10:00, 14 December 2021

I am a wee bit concerned that the Government have brought these amendments so late in the day. I appreciate that they have brought them now, rather than seeking to come back and amend legislation further down the road. That is something, I suppose. Does the Minister intend to review this legislation, and on what timescale? I am a wee bit worried about the letter we received yesterday, which said that, as originally drafted, the legislation includes some inconsistencies with wider tax rules and within the regime’s eligibility criteria. Given those worries and these amendments, I would like some reassurance from the Minister that the Government are going to keep an eye on this legislation to make sure that it is not exploited or used in the way that it is not intended to be. We need to make sure that people are paying the tax that they ought to be and that the legislation is not used as some kind of dodge.