Asked by: Margaret Hodge (Labour - Barking)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, with reference to the oral contribution of the Parliamentary Under-Secretary of State for Business, Energy and Industrial Strategy during the Twelfth sitting of the Public Bill Committee on the Economic Crime and Corporate Transparency Bill on Tuesday 15 November 2022, Official Report, column 397, whether she has made an assessment of the prevalence of nominee partners being used to hide the person with significant influence or control over limited partnerships in the context of recent reports on that subject.
Answered by Kevin Hollinrake - Minister of State (Department for Business and Trade)
The Government is aware that limited partnerships are being misused by rogue actors. This is why we legislated for reform of the law governing limited partnerships via the Economic Crime and Corporate Transparency Act 2023.
Under these reforms, much more information will be required on the partners of all limited partnerships, leading to greater transparency. Companies House will also have greater powers to challenge, reject, share and remove suspicious information relating to limited partnerships.
In addition, the new Companies House intelligence hub will use data science to identify patterns and crack down on those trying to dodge the new requirements.
Asked by: Margaret Hodge (Labour - Barking)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, with reference to the oral contribution of the Parliamentary Under-Secretary of State for Business, Energy and Industrial Strategy during the Twelfth sitting of the Public Bill Committee on the Economic Crime and Corporate Transparency Bill on Tuesday 15 November 2022, Official Report, column 397, whether she has made a recent assessment of the prevalence of limited partnerships (LP) owning assets in the context of reports of LPs owning oil tankers and other vessels.
Answered by Kevin Hollinrake - Minister of State (Department for Business and Trade)
My Department and Companies House closely monitor reports of potential misuse of corporate structures registered in the UK.
The Government is well aware of the risks around misuse of limited partnerships, which is why we acted through the Economic Crime and Corporate Transparency Act 2023 to introduce the biggest changes to limited partnership law since 1907. The reforms will crack down on the abuse of all UK limited partnerships, including requiring much more information on the partners and greater controls over their formation.
Asked by: Margaret Hodge (Labour - Barking)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, how many (a) Limited Partnerships in England, Wales and Northern Ireland, (b) Scottish Limited Partnerships and (c) Limited Liability Partnerships in England, Wales and Northern Ireland were incorporated in each of the last ten years.
Answered by Kevin Hollinrake - Minister of State (Department for Business and Trade)
(a) Limited Partnerships in England, Wales and Northern Ireland | ||
| England and Wales | Northern Ireland |
2023 | 620 | 43 |
2022 | 854 | 57 |
2021 | 708 | 32 |
2020 | 814 | 40 |
2019 | 752 | 63 |
2018 | 1415 | 349 |
2017 | 645 | 73 |
2016 | 742 | 96 |
2015 | 597 | 64 |
2014 | 526 | 1 |
(b) Scottish Limited Partnerships | |
2023 | 630 |
2022 | 729 |
2021 | 591 |
2020 | 657 |
2019 | 751 |
2018 | 2,689 |
2017 | 4,932 |
2016 | 5,706 |
2015 | 3,884 |
2014 | 3,499 |
(c) Limited Liability Partnerships in England, Wales, and Northern Ireland | ||
| England and Wales | Northern Ireland |
2023 | 4,901 | 26 |
2022 | 5,102 | 42 |
2021 | 5,338 | 48 |
2020 | 4,618 | 47 |
2019 | 4,935 | 62 |
2018 | 5,062 | 89 |
2017 | 8,663 | 72 |
2016 | 8,025 | 68 |
2015 | 6,789 | 130 |
2014 | 8,472 | 148 |
The year in the table provided refers to the financial year ending year, i.e. 2023 means 2022-23 Financial Year.
The data in the tables comes from the annual official statistics publication that Companies House produces: Companies register activities: statistical release 2022 to 2023 - GOV.UK (www.gov.uk)
Asked by: Margaret Hodge (Labour - Barking)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, how many applications to restrict publication of personal data under section 790ZG of the Companies Act 2006 Companies House were (a) received and (b) granted in each of the last three years.
Answered by Kevin Hollinrake - Minister of State (Department for Business and Trade)
The table below sets out the number of applications received to restrict the publication of personal data under section 790ZG of the Companies Act 2006
Year | Applications received | Applications granted |
2021 | 42 | 10 |
2022 | 72 | 25 |
2023 | 95 | 7 |
There is 1 application currently pending. These figures have been manually collated. This is supplied as management information; it is unaudited and is subject to change. It should, therefore, be used for indicative purposes only.
Asked by: Margaret Hodge (Labour - Barking)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, how many refusals by Companies House to grant an application to restrict publication of personal data under section 790ZG of the Companies Act 2006 were subject to (a) successful and (b) unsuccessful judicial review in each of the last three years.
Answered by Kevin Hollinrake - Minister of State (Department for Business and Trade)
There have been no judicial reviews against Companies House for refusal to grant applications to restrict personal data under section 790ZG of the Companies Act 2006 in the last three years.
Asked by: Margaret Hodge (Labour - Barking)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what steps she is taking to ensure that nominee partners are not used to evade the provisions of the Economic Crime and Corporate Transparency Act 2023 relating to limited partnerships.
Answered by Kevin Hollinrake - Minister of State (Department for Business and Trade)
The Economic Crime and Corporate Transparency Act 2023 makes comprehensive reforms to the law governing limited partnerships. This includes providing greater powers for Companies House to challenge, reject, share and remove suspicious information.
Alongside these reforms, Companies House will make full use of data science at their new intelligence hub to identify patterns and crack down on those seeking to evade the requirements.
Asked by: Margaret Hodge (Labour - Barking)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what steps she is taking to enforce the provisions of the Economic Crime and Corporate Transparency Act 2023 relating to limited partnerships.
Answered by Kevin Hollinrake - Minister of State (Department for Business and Trade)
The reforms to limited partnerships in the Economic Crime and Corporate Transparency Act 2023 require new secondary legislation, guidance and system development before they can be implemented.
The government remains committed to implementing, and enforcing, the reforms as soon as possible.
Asked by: Margaret Hodge (Labour - Barking)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, both what steps she (a) has taken and (b) plans to take to recover property titles on the Register of Overseas Entities owned by overseas entities which have been dissolved or struck off without there first being an onward sale.
Answered by Kevin Hollinrake - Minister of State (Department for Business and Trade)
The handling of overseas entities assets upon dissolution is based on the company's information and the location of the asset. If the asset is located in England or Wales, the Treasury Solicitor manages the assets. In Scotland, it's the King's and Lord Treasurer's Remembrancer. In Northern Ireland, the Crown Solicitor's Office. Assets located in the Duchies of Cornwall or Lancaster are dealt with by their solicitors.
My Department is responsible for compliance with the transparency obligations imposed on overseas entities owning UK property under the Economic Crime (Transparency and Enforcement) Act 2022.
Asked by: Margaret Hodge (Labour - Barking)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, if she he will take steps to expand the person of significant control regime to English and Welsh Limited Partnerships.
Answered by Kevin Hollinrake - Minister of State (Department for Business and Trade)
There are currently no plans to expand the People with Significant Control framework to English and Welsh limited partnerships, which do not have a separate legal personality distinct from their partners.
The Economic Crime and Corporate Transparency Act 2023 makes the largest reforms to the law governing limited partnerships since 1907. Under these reforms, all general partners will have to verify their identities, and much more information will be required on the partners of all limited partnerships, leading to greater transparency. Companies House will also have greater powers to challenge, reject, share and remove suspicious information relating to limited partnerships.
Asked by: Margaret Hodge (Labour - Barking)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what steps she plans to take to achieve transparency over the ultimate ownership of UK land held by overseas entities where the legal owner and the beneficial owner of land are different.
Answered by Kevin Hollinrake - Minister of State (Department for Business and Trade)
HM Land Registry holds publicly accessible records of the registered proprietors of land and buildings in England and Wales. If the registered proprietor is an overseas entity, information about the company and its beneficial owners is already publicly available on the Register of Overseas Entities, held by Companies House.
The Economic Crime and Corporate Transparency Act 2023 will also require Overseas Entities acting as nominees to disclose their information to Companies House.
The Government intends to launch a consultation on how to make trust information held on the Register of Overseas Entities more transparent.