UK accused of caving-in to British Virgin Islands over access to companies register

The UK government has been accused of caving-in to pressure from the British Virgin Islands by allowing it to limit access to a register of company share ownership to only those deemed to have a legitimate interest.

The restriction, to be discussed at talks starting on Tuesday between Foreign Office ministers and leaders of the British overseas territories (BOTs) in London, is in defiance of legislation passed by the UK government as long ago as 2008 that would make the register available to all.

Public registers of beneficial share ownership have long been seen as the best means to expose corruption and tax evasion in overseas territories.

The backsliding by the BOTs has led an all-party group of MPs to urge ministers to recognise that the talks this week represent “the last chance”