How much of a threat do Unexplained Wealth Orders (UWOs) pose? Rachel Cook discusses in EPrivateClient
UWOs are very effective in assisting the authorities to discover the source of income used to acquire property or to identify an ultimate beneficial owner, especially those in offshore structures according to P&P expert Rachel Cook. She says, “whatever their limits, for those faced with UWOs, it will have been a worrying, time-consuming and expensive exercise trying to resist them.” There are concerns that UWOs could become politically motivated going forward, but Rachel thinks this is unlikely. Read the full article.