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Official Report: search what was said in Parliament

The Official Report is a written record of public meetings of the Parliament and committees.  

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Dates of parliamentary sessions
  1. Session 1: 12 May 1999 to 31 March 2003
  2. Session 2: 7 May 2003 to 2 April 2007
  3. Session 3: 9 May 2007 to 22 March 2011
  4. Session 4: 11 May 2011 to 23 March 2016
  5. Session 5: 12 May 2016 to 4 May 2021
  6. Current session: 13 May 2021 to 24 March 2026
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Displaying 1644 contributions

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Local Government, Housing and Planning Committee [Draft]

Visitor Levy (Amendment) (Scotland) Bill: Stage 1

Meeting date: 3 February 2026

Ivan McKee

Officials can keep me right on the technicalities, but local authorities have the ability to do that themselves. In the scenarios that you are painting, local authorities would have that power, and they will be able to judge whether they want to use that locally.

Finance and Public Administration Committee [Draft]

Subordinate Legislation

Meeting date: 3 February 2026

Ivan McKee

The purpose is to attract more investment into Scotland in relation to property.

Finance and Public Administration Committee [Draft]

Subordinate Legislation

Meeting date: 3 February 2026

Ivan McKee

We do not know, because obviously no transactions are happening at the moment. The Scottish Fiscal Commission has said that it is below the materiality threshold, which is £5 million. However, in effect, we will not know until it is removed and those transactions start taking place.

Finance and Public Administration Committee [Draft]

Subordinate Legislation

Meeting date: 3 February 2026

Ivan McKee

That would be considered on a general basis across the Scottish Government’s funding for communities and community organisations.

09:30

Finance and Public Administration Committee [Draft]

Subordinate Legislation

Meeting date: 3 February 2026

Ivan McKee

I am not committing to that.

Finance and Public Administration Committee [Draft]

Subordinate Legislation

Meeting date: 3 February 2026

Ivan McKee

Point taken.

Finance and Public Administration Committee [Draft]

Subordinate Legislation

Meeting date: 3 February 2026

Ivan McKee

Officials can keep me right on this. To be clear, the money that comes into the fund would be spent through the fund. No more money would come into the fund, because a tax benefit would incentivise companies to put money into it. With many of them opting out of contributions through that mechanism, that money would remain with Revenue Scotland rather than going into the fund.

Finance and Public Administration Committee [Draft]

Subordinate Legislation

Meeting date: 3 February 2026

Ivan McKee

Just to be clear, the tax credit benefit on that is 90 per cent.

Finance and Public Administration Committee [Draft]

Subordinate Legislation

Meeting date: 3 February 2026

Ivan McKee

Absolutely. Good morning. I am delighted to be back.

The Land and Buildings Transaction Tax (Co-ownership Authorised Contractual Schemes) (Scotland) Regulations 2026 provide for an exemption from LBTT for qualifying unit transactions within a co-ownership authorised contractual scheme, or CoACS.

The proposed amendments recognise that the issuance, disposal or transfer of a unit within a CoACS is a tax-neutral transaction for LBTT purposes. In other words, it does not represent a disposal or an acquisition of land and property in Scotland. The proposed amendments aim to ensure that an LBTT liability does not arise to investor-level unit transactions where the underlying land and property within a CoACS remain within the scheme itself.

The proposed exemption aims to support such schemes’ investment in Scottish land and property by removing the tax and administrative burdens created by treating an investor-level unit transaction as a land transaction, despite there being no overall change in scheme ownership of the land or property.

I welcome the opportunity to discuss this Scottish statutory instrument and look forward to the committee’s questions.

Finance and Public Administration Committee [Draft]

Subordinate Legislation

Meeting date: 3 February 2026

Ivan McKee

The structure of these transactions is such that individual investors own part of an entity that then owns the property. Therefore, if individual investors are moving in and out of that entity, the purpose is clearly not to be able to tax those transactions. The issue is about when the ownership of the property itself is transferred.

The material impact is that those transactions are not taking place in Scotland, which means that investment is not happening. There is a different structure with stamp duty down south, but the effect of it is the same as what we are proposing here, which is that those transactions should not be liable to tax. That obviously creates an environment where it is more advantageous to make those investments south of the border.

There is no tax lost at the moment with those transactions, because they are, in effect, not taking place.