Amendment to anti-money laundering bill to be debated

A group of MPs have put forward an amendment to the Sanctions and Anti-Money Laundering Bill which Conservative MP Andrew Mitchell says he is confident the Government will support.

In what is deemed a “historic” crackdown on offshore corporate secrecy, the amendment to the Bill, being debated in the House of Commons today, aims to force British overseas territories to publish registers revealing who owns which assets.

The leak of the Panama Paper in 2016, which revealed widespread use of offshore asset-owning structures, both for legitimate purposes and for illegitimate means, has continued to put pressure on the UK government which is more determined than ever to win in their fight against money laundering.

Company law is a minefield of complex rules and regulations and the penalties for non-compliance are severe. Specialist tasks like these are best handled by experts.

At Beavis Morgan our corporate compliance team, headed by both fully qualified chartered accountants and a chartered secretary, offers a complete company secretarial service, designed to give you peace of mind that all these complexities are dealt with.

We can take away all the hassle of statutory compliance and help you keep abreast of all the latest developments, whilst providing all of the backup for statutory changes, compliance with the dividend regulations, officer appointments & resignations and so on. We also offer clients the opportunity to outsource their entire finance department.

To find out more about how we can help you keep on top of your obligations as a company director or company secretary, leaving you to concentrate on the day-to-day demands of running your business, please contact Jeremy Rogers in our specialist Cosec team, or your usual Beavis Morgan Partner.