 |
answer text |
<p>The UK has implemented a series of reforms since 2015 aimed at increasing the transparency
of UK incorporated legal persons and arrangements, and preventing their misuse for
illicit purposes. These reforms include, but are not limited to, the introduction
of the publicly accessible People with Significant Control Register; the abolition
of bearer shares; the introduction of a register of trusts with tax generating consequences;
the introduction of Unexplained Wealth Orders; and the introduction of the HMRC register
of Trust or Company Service Providers. It is too early to measure the impact of many
of these reforms, but we expect these measures to make a significant difference to
the prevention of the misuse of companies and trusts, and assist law enforcement in
their investigations where misuse does occur.</p><p> </p><p> </p>
|
 |
