Coming soon: the UK Corporate and Individual Financial Transparency Bill

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Many will know that I worked with Michael Meacher MP last year to table the General Anti-Tax Avoidance Principle Bill that would have beaten tax avoidance in the UK so much ore effectively than the government’s lame General Anti-Abuse Rule will ever do.

Now Michael has won a place in the private member’s ballot again this year and has as a result tabled a new bill:

UK Corporate and Individual Financial Transparency Bill

Bill to require disclosure of various financial information by large companies; to provide for disclosure of beneficial ownership; to require banks to disclose to HMRC the identity of certain companies holding bank accounts; to require the publication of the tax returns of individuals with an income of more than a certain level and the largest 250 UK companies; and for connected purposes.

I look forward to seeing the new Bill in due course. It should be tabled by 18 July.