Tulip Siddiq – 2016 Parliamentary Question to the HM Treasury

The below Parliamentary question was asked by Tulip Siddiq on 2016-05-04.

To ask Mr Chancellor of the Exchequer, which competent authorities in the UK will be able to access data on the beneficial ownership of companies incorporated in (a) other EU countries and (b) British Overseas Territories.

Harriett Baldwin

All UK competent authorities can request company beneficial ownership information from foreign jurisdictions through Mutual Legal Assistance and other information sharing arrangements such as the Egmont Group of Financial Intelligence Units. Furthermore, more than 30 countries have now joined the initiative to automatically share beneficial ownership information among participants (the statement can be found here: https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/520459/statement_on_the_initiative_for_exchange_of_beneficial_ownership_information.pdf). The Prime Minister also recently announced that UK law enforcement and tax agencies will have full access to information on the beneficial ownership of companies incorporated in all UK Overseas Territories and Crown Dependencies (except Guernsey).