Subscribe to our newsletter

sign up

UK lawmakers cite loopholes in foreign land owners bill

British lawmakers issued a report Monday outlining potential loopholes in draft legislation intended to help better identify foreign criminals seeking to launder money in UK property.

Shared by KYC360
May 21, 2019

share this article

The 86-page report by members of the UK House of Lords and House of Commons concluded that the current version of the Registration of Overseas Entities Bill would permit foreign individuals buying real estate in the country to remain anonymous by arranging the purchases through trusts.

Read more at the KYC360.

OTS calls on government to simplify PAYE for small business

Bank of England warns investment will suffer under no-deal Brexit

related articles

Businesses that failed to service deferred VAT slapped with fines

UK watchdog demands 40% women in boardrooms, ethnic diversity

Calls to extend complex Brexit Support Fund

£40m green grants to create 2,500 jobs

Charities ask to be excluded from audit reforms

Government department pays £87.9m to HMRC for IR35 failings

must reads

latest poll

When it safe to do so do you anticipate that your business will want to facilitate more employees working from home than it used to?

View previous polls

recent comments

array(3) { [0]=> object(stdClass)#9736 (31) { ["id"]=> string(5) "22556" ["contentid"]=> string(5) "36863" ["component"]=> string(11) "com_content" ["ip"]=> string(14) "162.158.158.57" ["userid"]=> string(1) "0" ["modified_by"]=> string(1) "0" ["date"]=> string(11) "6 days ago." ["modified"]=> string(19) "0000-00-00 00:00:00" ["name"]=> string(13) "PK. FFA FIPA" ["email"]=> string(0) "" ["website"]=> string(0) "" ["notify"]=> string(1) "0" ["title"]=> string(0) "" ["comment"]=> string(40) "Our CEO is absolutely correct in his..." ["published"]=> string(1) "1" ["deleted"]=> string(1) "0" ["spam"]=> string(1) "0" ["voting_yes"]=> string(1) "0" ["voting_no"]=> string(1) "0" ["parentid"]=> string(2) "-1" ["importtable"]=> string(0) "" ["importid"]=> string(1) "0" ["importparentid"]=> string(2) "-1" ["unsubscribe_hash"]=> string(32) "9815907e32a737065cc367203916afc5" ["moderate_hash"]=> string(32) "966f324acb03b84a75ca45f36c79072d" ["customfields"]=> string(0) "" ["user_realname"]=> NULL ["user_username"]=> NULL ["user"]=> string(13) "PK. FFA FIPA" ["link"]=> string(57) "/component/comment/?task=comment.gotocomment&id=22556" ["overlayComment"]=> string(109) "Our CEO is absolutely correct in his article ,lawyers,Doctors,etc are protected why not qualified accountants" } [1]=> object(stdClass)#9763 (31) { ["id"]=> string(5) "22555" ["contentid"]=> string(5) "38648" ["component"]=> string(11) "com_content" ["ip"]=> string(13) "141.101.98.30" ["userid"]=> string(1) "0" ["modified_by"]=> string(1) "0" ["date"]=> string(11) "6 days ago." ["modified"]=> string(19) "0000-00-00 00:00:00" ["name"]=> string(9) "Anonymous" ["email"]=> string(0) "" ["website"]=> string(0) "" ["notify"]=> string(1) "0" ["title"]=> string(0) "" ["comment"]=> string(41) "My comments are on the basis that this..." ["published"]=> string(1) "1" ["deleted"]=> string(1) "0" ["spam"]=> string(1) "0" ["voting_yes"]=> string(1) "0" ["voting_no"]=> string(1) "0" ["parentid"]=> string(2) "-1" ["importtable"]=> string(0) "" ["importid"]=> string(1) "0" ["importparentid"]=> string(2) "-1" ["unsubscribe_hash"]=> string(32) "0ef6e121007104d21f54bd6ebbf943f7" ["moderate_hash"]=> string(32) "14ea9342c0bff6f7d2a5a147f8b8b66f" ["customfields"]=> string(0) "" ["user_realname"]=> NULL ["user_username"]=> NULL ["user"]=> string(9) "Anonymous" ["link"]=> string(57) "/component/comment/?task=comment.gotocomment&id=22555" ["overlayComment"]=> string(100) "My comments are on the basis that this money in a jam-jar approach solves nothing in the national..." } [2]=> object(stdClass)#9714 (31) { ["id"]=> string(5) "22554" ["contentid"]=> string(5) "38630" ["component"]=> string(11) "com_content" ["ip"]=> string(13) "141.101.69.85" ["userid"]=> string(1) "0" ["modified_by"]=> string(1) "0" ["date"]=> string(11) "1 week ago." ["modified"]=> string(19) "0000-00-00 00:00:00" ["name"]=> string(4) "SidJ" ["email"]=> string(0) "" ["website"]=> string(0) "" ["notify"]=> string(1) "0" ["title"]=> string(0) "" ["comment"]=> string(35) "Good article on MTDfITSA and how..." ["published"]=> string(1) "1" ["deleted"]=> string(1) "0" ["spam"]=> string(1) "0" ["voting_yes"]=> string(1) "0" ["voting_no"]=> string(1) "0" ["parentid"]=> string(2) "-1" ["importtable"]=> string(0) "" ["importid"]=> string(1) "0" ["importparentid"]=> string(2) "-1" ["unsubscribe_hash"]=> string(32) "f47eb68e6c6c3fd6ec128fd955ae76a4" ["moderate_hash"]=> string(32) "c45da0072d23f6bc97d7f17d2920872d" ["customfields"]=> string(0) "" ["user_realname"]=> NULL ["user_username"]=> NULL ["user"]=> string(4) "SidJ" ["link"]=> string(57) "/component/comment/?task=comment.gotocomment&id=22554" ["overlayComment"]=> string(63) "Good article on MTDfITSA and how practices shall need to adapt." } }