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UK Private Company and LLP Beneficial Ownership: New Disclosure Requirements from April 2016
21 March 2016
View Client Update
From 6 April 2016, all UK-incorporated companies and LLPs will (unless exempt) be required to maintain a register of natural persons with significant control (“
”). Such register will be open to inspection by the public.
Many foreign individuals who use UK entities within their group structures will be named (and certain personal details disclosed) on such public registers.
In the event of non-compliance, relevant officers, members and PSCs will be subject to a criminal charge, fine and/or up to two years’ imprisonment.
From 30 June 2016, the details of such registers will also be recorded at Companies House.
Geoffrey P. Burgess
UK Modern Slavery Act Transparency Statement
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