BEIS has published its response to its consultation on the reform of Limited Partnership law. It has confirmed new measures, applicable to all limited partnerships in the UK (and, for Scottish Limited Partnerships, in addition to the beneficial ownership reportingrequirements previously introduced), to:
- require anyone registering a Limited Partnership to show they are registered with an official AML-supervised agent, such as an accountant or lawyer;
- require any MP to show an ongoing link to the UK;
- introduce a confirmation statement for LPs to submit to Companies House at least annually to ensure information is up to date’ and
- give Companies House powers to strike off LPs which are dissolved or not carrying on business