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.

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Photo of Lucy Frazer Lucy Frazer The Financial Secretary to the Treasury 10:00, 14 December 2021

I welcome the lack of opposition to these clauses, which will support UK growth, by the hon. Member for Ealing North. The hon. Member for Glasgow Central made a point about the fact that the Government have made amendments late in the day. I reassure her that they are technical changes. Following engagement with the industry since the introduction of the Finance Bill, the amendments required were pointed out to us and, therefore, it is important that we include the amendments in the Bill. We keep all legislation under review. We are very concerned, as the hon. Member will have seen from other measures in the Bill, about tackling tax avoidance, so we will keep an eye out for any misuse of the measures. I commend the amendments and clause 14 to the Committee.