Finance (No. 2) Bill — New Clause 27 — Review of Economic Crime (Anti-Money Laundering) Levy — 2 Feb 2022 at 18:00

The majority of MPs voted not to require a report on the impact of a tax on financial and other bodies to fund tackling economic crime and on the potential impact that a register of beneficial owners of overseas entities that own UK property might have on that scheme.

MPs were considering the Finance (No. 2) Bill.^[1][2][3]

The proposed new clause rejected in this vote was titled: Review of Economic crime (anti-money laundering) levy and stated:

• (1) The Government must publish an impact assessment of the operation of the Economic crime (anti-money laundering) levy within six months of Royal Assent to this Act.
• (2) The assessment carried out under subsection (1) must include an assessment of the contribution to the effectiveness of the levy that a register of beneficial owners of property would make

The rejected new clause was accompanied by the following statement from its proposer:

• This new clause would require the Government to produce an impact assessment of the operation of the new Economic crime (anti-money laundering) levy, and assess how a register of beneficial owners of property would contribute to the effectiveness of the levy.

The motion rejected by the majority of MPs in this vote was:

• That the clause be added to the Bill.

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• [1] Parliament's webpage on the Finance (No. 2) Bill, Parliament.uk
• [2] The Finance (No. 2) Bill (as amended in Committee), 11 January 2022, Parliament.uk
• [3] Explanatory notes to the Finance (No. 2) Bill, 4 November 2021, Parliament.uk

Debate in Parliament |