Doubt it. As long as they have been sensible enough to pay tax when due to the appropriate authorities in the appropriate countries, then they can legally have their money in any bank account anywhere they like. In any event, while the ultimate holding company might be incorporated in a "tax haven", I doubt very much that any actual dosh is kept there.
Does it include information on company ownership being made available?
Even if it did, the BVI authorities will not know, so will not be able to pass on the info. AFAIK, BVI companies can still issue bearer shares as long as those shares are lodged with an authorised (local) custodian.
Does it include information on company ownership being made available?
Even if it did, the BVI authorities will not know, so will not be able to pass on the info. AFAIK, BVI companies can still issue bearer shares as long as those shares are lodged with an authorised (local) custodian.
"owners" are often nominees anyway.
All these sorts of measures will do is chase money out of UK territories and onto other havens like Belize.
About time too. They want our aid ? .. let them point out the villains, tax evaders and outright thieves who have salted money away beyond the previous reach of the UK Revenue
It will only help HMRC if there is a connection between the name of the account holder and a UK business or individual which has not been disclosed. If it's a business then it might have a legitimate reason for a local account sheltering locally earned income not taxable in the UK, e.g say Starbucks or Amazon. Not every account in Belize is a tax shelter. My daughter runs an orphanage in Belize and operates a local bank account as well as a UK account, hardly a tax evader.
If it's a moody account the chances are it will be a fictitious account holder. It will no doubt put the frighteners on casual tax dodgers who might repatriate their dosh, and HMRC will probably offer an amnesty on prosecution to encourage it. But the rest will be mostly criminals who have got round money laundering rules and be difficult to track down anyway, least of all by HMRC.
No bad thing but more of a gesture to massage public opinion.
So, it seems Cameron seriously wants to get rid of tax secrecy and is prepared to change UK law to force UK companies to lodge details of their beneficial owners with Companies House. So we may finally get to know that Kevin Cash is the main man! bbc.co.uk/news/uk-politics-22915954
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All these sorts of measures will do is chase money out of UK territories and onto other havens like Belize.
If it's a moody account the chances are it will be a fictitious account holder. It will no doubt put the frighteners on casual tax dodgers who might repatriate their dosh, and HMRC will probably offer an amnesty on prosecution to encourage it. But the rest will be mostly criminals who have got round money laundering rules and be difficult to track down anyway, least of all by HMRC.
No bad thing but more of a gesture to massage public opinion.
bbc.co.uk/news/uk-politics-22915954