Estimated impact of extending the scope of the Register of People with Significant Control Regulations 2016

Finance Bill – in the House of Commons at 2:54 pm on 28th June 2016.

Alert me about debates like this

Votes in this debate

“The Chancellor of the Exchequer must, within 12 months of this Act coming into force, publish an estimate of the impact on levels of tax avoidance and tax evasion of extending the requirement placed on UK-incorporated companies by the Register of People with Significant Control Regulations 2016 to publish a register of people with significant control to companies incorporated in the Crown Dependencies and the Overseas Territories which have significant levels of trading activity within the UK.”—(Dame Margaret Hodge.)

This new clause would require the Chancellor to publish an estimate of the impact on levels of tax avoidance and tax evasion of extending the current requirement on UK-based companies to publish information about people who have significant control over them to companies incorporated in the Crown Dependencies and the Overseas Territories which have significant levels of trading activity within the UK.

Brought up.

Question put, That the clause be added to the Bill.

The House divided:

Ayes 268, Noes 305.

Division number 26 Finance Bill — Estimated impact of extending the scope of the Register of People with Significant Control Regulations 2016

Aye: 268 MPs

No: 305 MPs

Ayes: A-Z by last name

Tellers

Nos: A-Z by last name

Tellers

Question accordingly negatived.

Clause 41