Question to the Department for Business and Trade:

To ask the Secretary of State for Business and Trade, with reference to the Third progress report on the implementation and operation of Parts 1 to 3 of the Economic Crime and Corporate Transparency Act 2023, what was the total value of the 401 penalty notices which were not reversed, waived or written off; what was the total value of the 144 penalty notices reversed, waived or written off; and what is the total value of penalty notices which have been paid to date.

Since the commencement of the Register of Overseas Entities regime, up to 31 March 2026, financial penalties have been issued to 445 overseas entities. Of these, 245 penalties with a total value of £13.19 million have been reversed, waived or written off, while penalties with a total value of £9.87 million remain valid. The total value of financial penalties paid to date is £1.18 million as at 31 March 2026.

The 144 cases stated as reversed, waived or written off in the third progress report, included only those recorded during the 2025–26 financial year.