In previous stories, foreign owned property in Cornwall and thousands in breach of law, I explained how thousands of properties in the UK are owned by overseas entities and their owners are breaking the law by not correctly registering the ownership details with Companies House.
I referred to the work of Dan Neidle of Tax Policy Associates who is doing great work in exposing frauds and sharp practice in the world of tax and also in analysing tax policies and often the failings of government to do the right thing. Dan’s latest offering is a new interactive website that provides more detailed information on the issue of foreign ownership of properties in this country with dynamics links to the companies that purportedly own them. It shows which foreign jurisdictions are involved, which companies have failed to register with Companies House, which have not declared their beneficial ownership. The website is in its beta phase at the moment. I will publish the link to it when it goes live.
The real scandal is that Companies House continues to fail to take the necessary action to stop this lawbreaking. They have the information and the powers to prosecute but, for inexplicable reasons, are reluctant to do so.