July 14, 2014

Change on the way for UK companies

Abolition of corporate directors and compulsory registration of significant controlling interests

New legislation is on the way to prohibit the use of corporate directors and compel companies to maintain publicly accessible registers of individuals with significant controlling interests.

Background

At the 2013 Lough Erne G8 Summit, world leaders agreed to tackle tax evasion, money laundering, terrorism finance and other criminal activity perpetrated through corporate structures by increasing corporate transparency, making it easier to link companies to the individuals ultimately controlling them.

Please click below to download the PDF of this update.