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.

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.