Question to the Foreign, Commonwealth & Development Office:

To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, what discussions he has had with the Chancellor of the Exchequer on increased tax receipts as a result of new registers of beneficial ownership in overseas territories and crown dependencies.

Answered by Stephen Doughty - Minister of State (Foreign, Commonwealth and Development Office)

The Foreign, Commonwealth and Development Office, Home Office and Treasury officials coordinate regularly on work around advancing beneficial ownership transparency. We are clear on the benefits of accessible registers of beneficial ownership, which not only include tackling illicit finance and corruption, but also fighting tax and sanctions evasion.

At the Overseas Territories Joint Ministerial Council (JMC) in November 2024, the Falkland Islands and Saint Helena committed to join Montserrat and Gibraltar in implementing fully public registers by April 2025. The British Virgin Islands, Cayman Islands, Bermuda, Anguilla and Turks and Caicos Islands agreed to implement registers of beneficial ownership, accessible to those with a legitimate interest, by June 2025. It remains our expectation that the Overseas Territories and Crown Dependencies will ultimately implement fully public registers.

The Crown Dependencies have committed to increasing the transparency of their beneficial ownership registers and are working towards implementing access to those with legitimate interest, in line with the EU's 6th Anti-Money Laundering Directive.

I have and will continue to raise this directly with elected leaders across the Overseas Territories, and Home Office Ministers and officials will continue to engage with the Crown Dependencies. I regularly engage with Ministerial colleagues on matters related to the Overseas Territories, including in HM Treasury.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what estimate she has made of the amount of tax income which could be generated by new registers of beneficial ownership in overseas territories and crown dependencies.

Answered by James Murray - Exchequer Secretary (HM Treasury)

We are clear on the benefits of beneficial ownership registers, which not only include tackling illicit finance and corruption, but also fighting tax and sanctions evasion.

At the Overseas Territories Joint Ministerial Council (JMC) in November 2024, the Falkland Islands and Saint Helena committed to join Montserrat and Gibraltar in implementing fully public registers by April 2025. The British Virgin Islands, Cayman Islands, Bermuda, Anguilla and Turks and Caicos Islands agreed to implement registers of beneficial ownership, accessible to those with a legitimate interest, by June 2025. It remains our expectation that the Overseas Territories and Crown Dependencies will ultimately implement fully public registers.

The Crown Dependencies have committed to increasing the transparency of their beneficial ownership registers and are working towards implementing access to those with legitimate interest, in line with the EU's 6th Anti-Money Laundering Directive.

HMRC draws on a variety of data sources to tackle offshore non-compliance, including exchange of information under double taxation agreements and Tax Information Exchange Agreements.

Question to the Foreign, Commonwealth & Development Office:

To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, with reference to the meeting of the UK and Overseas Territories Joint Ministerial Council between 19 and 21 November 2024, what progress has been made on the implementation of public registers of beneficial ownership in the Overseas Territories.

Answered by Stephen Doughty - Minister of State (Foreign, Commonwealth and Development Office)

Work is ongoing to improve beneficial ownership transparency in the Overseas Territories. At the Joint Ministerial Council (JMC) in November 2024, the Falkland Islands and Saint Helena committed to join Montserrat and Gibraltar in implementing fully public registers by April 2025. The British Virgin Islands (BVI), Cayman Islands, Bermuda, Anguilla and Turks and Caicos Islands agreed to implement registers of beneficial ownership, accessible to those with a legitimate interest, by June 2025. It remains our expectation that the Overseas Territories and Crown Dependencies will ultimately implement fully public registers.

Every Territory is making progress towards these commitments and FCDO officials are in regular contact with counterparts in the Overseas Territories on their proposals for registers to ensure they meet the agreement made at JMC. I have and will continue to raise this directly with elected leaders across the Overseas Territories. I have recently spoken with the Premiers of BVI and Bermuda on this issue.

Question to the Foreign, Commonwealth & Development Office:

To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, what assessment he has made of the levels of compliance by overseas territories on providing public registers of beneficial ownership.

Answered by Stephen Doughty - Minister of State (Foreign, Commonwealth and Development Office)

At the Joint Ministerial Council (JMC) in November 2024, the Falkland Islands and Saint Helena committed to join Montserrat and Gibraltar in implementing fully public registers by April 2025. The British Virgin Islands, Cayman Islands, Bermuda, Anguilla and Turks and Caicos Islands agreed to implement registers of beneficial ownership, accessible to those with a legitimate interest by June 2025, with the necessary safeguards to protect the right to privacy in line with respective constitutions.

Every Territory is making progress towards these commitments and FCDO officials are in regular contact with counterparts in the Overseas Territories on their proposals for registers to ensure they meet JMC agreements. I have and will continue to raise this directly with elected leaders across the Overseas Territories, and have discussed with the leaders of a number of OTs including Bermuda and the British Virgin Islands in recent weeks.

Question to the Foreign, Commonwealth & Development Office:

To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, what steps he plans to take to ensure that Overseas Territories adopt open and public registers of beneficial ownership.

Answered by Stephen Doughty - Minister of State (Foreign, Commonwealth and Development Office)

Work is ongoing to improve beneficial ownership transparency in the Overseas Territories. At the Joint Ministerial Council (JMC) in November 2024, the Falkland Islands and Saint Helena committed to join Montserrat and Gibraltar in implementing fully public registers by April 2025. The British Virgin Islands, Cayman Islands, Bermuda, Anguilla and Turks and Caicos Islands agreed to implement registers of beneficial ownership, accessible to those with a legitimate interest, by June 2025. It remains our expectation that the Overseas Territories and Crown Dependencies will ultimately implement fully public registers.

Every Territory is making progress towards these commitments and FCDO officials are in regular contact with counterparts in the Overseas Territories on their proposals for registers to ensure they meet the agreement made at JMC. I have and will continue to raise this directly with elected leaders across the Overseas Territories, and have discussed with the leaders of a number of OTs including Bermuda and the British Virgin Islands in recent weeks.

Found: There are 14 UK Overseas Territories: • Anguilla • Bermuda • British Antarctic Territory • British Indian

Found: There are 14 UK Overseas Territories: • Anguilla • Bermuda • British Antarctic Territory • British Indian

Found: spp.", of a length of < 12 cm FREE 0301.92.30 Live eels "Anguilla spp.", of a length of => 12 cm

Found: ornamental freshwater fish 03011900 Live ornamental fish (excl. freshwater) 03019210 Live eels "Anguilla

Found: spp., Osteochilus hasselti, Leptobarbus hoeveni, Megalobrama spp."03027400Fresh or chilled eels "Anguilla

Found: The British Overseas Territories are currently: • Anguilla • Bermuda • British Antarctic Territory

Found: the small commercial vessel Calypso 2 on 11 March 2023, near West End on the north-west coast of Anguilla

Found: marine accident response 17 1.10.1 Royal Anguilla Police Force 17 1.10.2 Anguilla Fire and Rescue Service

Found: Anguilla: ZZ99 6RZ Ascension: ZZ99 6UZ Australia: ZZ99 6GZ Bermuda: ZZ99 6RZ Bosnia and Herzegovina:

Found: with the Public Accounts Public Accounts Committee: Fifth Senedd Legacy Report 21 Committees of Anguilla