A UK Government minister has admitted 28,000 notorious Scottish registered “tax haven” shell firms have failed to reveal their true owners’ identities two months after strict new transparency rules came in. The Scottish Limited Partnerships (SLP), which are officially registered to addresses in Scotland but frequently run by anonymous foreign entities, have since August faced potential £500-a-day fines unless their owners’ names are made known.
Now UK Business Minister Margot James has revealed tens of thousands of them have still to comply and work is continuing to force the firms, dubbed Britain’s “home-grown secrecy vehicle”, to open their ownership.
— source heraldscotland.com 2017-10-14