The Chartered Institute of Taxation (CIOT) has responded to some of the proposals in the Department for Business, Energy and Industrial Strategy’s (BEIS) consultation document ‘Corporate Transparency and Register Reform - Consultation on options to enhance the role of Companies House and increase the transparency of UK corporate entities’ which was published on 5 May 2019.
The CIOT commentend on these proposals in the context of:
- it being an anti-money laundering (AML) supervisor; and
- where there may be a tax perspective. Overall, we do not think that the proposals in this consultation have any direct tax implications, but we make a few broad points from a tax perspective.