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UK to become the most transparent place to do business in the world

  • Companies House published a business plan for 2017-18 and strategic plan for 2017-2020 which established its commitment to helping the Government make the UK the most transparent place to do business in the world.
  • According to the business plan, The Fourth Money Laundering Directive will be implemented at the end of June 2017.
  • It also explains the aim to improve the accuracy and completeness of PSC data by introducing new compliance activities, contacting those with incorrect data and helping them to complete their records properly.
  • Companies House will work with the Department for Business, Energy and Industrial Strategy to prepare for legislative changes which will be implemented beyond this financial year.
  • Specifically, the creation of a new register showing beneficial owners of overseas entities that own or want to buy property in the UK, and are involved in central government contracts.
  • The balance of the register between corporate transparency and the protection of an individual’s privacy will also be investigated.
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Max is a business lawyer with a pragmatic and highly commercial approach developed over an unusually diverse career with more than 25 years in private practice for small and large city law firms including international city giant Norton Rose advising businesses from start-ups to multinationals.