In response to a significant increase in registrations of limited partnerships in Scotland, and allegations that Scottish limited partnerships in particular were being used as money-laundering vehicles, the UK's Department for Business, Energy and Industrial Strategy is taking action.

The National Crime Agency has identified a disproportionately high volume of suspected criminal activity involving Scottish limited partnerships, and there have been some rare examples of them featuring in international money laundering schemes that have made international headlines. The Government is therefore seeking views on a series of reforms to limit the risk of misuse and has published a consultative paper on the subject. It is also taking the opportunity to consider ways in which law governing limited partnerships could or should be brought more closely into line with that governing limited companies – which, unlike the legislation for limited partnerships, has been reviewed and amended regularly over time. Money laundering reporting officers whose firms service HNW customers with interests in these partnerships should take note.