{"id":13029,"date":"2023-12-29T12:40:58","date_gmt":"2023-12-29T12:40:58","guid":{"rendered":"https:\/\/www.taxpolicy.org.uk\/?p=13029"},"modified":"2023-12-29T17:51:31","modified_gmt":"2023-12-29T17:51:31","slug":"more_mone","status":"publish","type":"post","link":"https:\/\/heacham.neidles.com\/2023\/12\/29\/more_mone\/","title":{"rendered":"Michelle Mone failed to declare her interest in an offshore trust"},"content":{"rendered":"\n

Last year, the Times<\/a> and then The Daily Mirror<\/a> reported that Douglas Barrowman and Michelle Mone owned (and sometimes lived in) a house in Belgravia which was held by an offshore trust. The Times has reported<\/a> that Barrowman sold the house earlier this year for \u00a319m. <\/p>\n\n\n\n

We’ve demonstrated<\/a> that the trust and its trustees are likely controlled by Mone and\/or her husband, Douglas Barrowman, but that they unlawfully failed to disclose their ownership at Companies House.<\/p>\n\n\n\n

Given Mone had use of the house on multiple occasions, she must have been a beneficiary of the trust (as otherwise the trustees would have been in breach of trust).1<\/a><\/sup>The position would be different if Mone was the spouse of a beneficiary, but for the most of the relevant period they were not married (they married in November 2020)<\/span> <\/p>\n\n\n\n

The House of Lords rules<\/a> require Members to declare any interest in a trust, just as they are required to declare interests in companies:<\/p>\n\n\n\n

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