The government has published a response paper following the transparency and trust consultation which aims to improve corporate transparency and accountability in the UK. The following measures will now be implemented: Register of beneficial ownership information: Each UK company will be required to maintain a register setting out details of its beneficial owners, ie, any person who owns or controls more than 25% of the company's shares or voting rights, or who otherwise exercises control over the company or its management. That information will be publicly available, via the register maintained by the company and via Companies House. Companies limited by guarantee and limited liability partnerships (LLPs) will also be caught by the requirements, but quoted companies will be exempt from these.
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