March 15 2022

United Kingdom Economic Crime Bill 2022 Becomes Law

Source: IBFD Tax Research Platform News

The Economic Crime (Transparency and Enforcement) Bill 2022 received Royal Assent on 14 March 2022. The Bill now becomes the Economic Crime (Transparency and Enforcement) Act 2022. The Act establishes a register of overseas entities and their beneficial owners and requires overseas entities that own UK land to register in certain circumstances.

The text of the Act can be accessed here.

The explanatory notes can be accessed here (as a PDF).