Overseas property register fines worth £1bn 'not yet imposed' says BBC report 

Mark Battersby
clock • 1 min read

The UK has so far failed to impose fines worth as much as £1bn on foreign companies according to new BBC analysis published earlier today (18 May).  The register was introduced as part of the Economic Crime Act in February 2022, following Russia's invasion of Ukraine. Ministers said it would reveal who ultimately owned UK property and also stop foreign criminals using UK property to launder money. Although the majority of companies have submitted their details, about 5,000 firms with property in England and Wales have not, more than three months after the 31 January deadline, the BBC ...

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