Blog: Scotland’s Panama Papers

Mike Dailly

Solicitor advocate Mike Dailly calls on lawyers to stop acting for SLPs that ignore transparency rules.

When the Panama Papers scandal broke two years ago, few would have thought such murkiness would wash up on the shores of Scotland. The use and abuse of shell companies to facilitate massive tax evasion, money laundering and organised crime didn’t happen here. Or so we thought.

A naïve belief that Scotland was somehow beyond the shady world of global finance and international crime has been shattered by good investigative journalism from The Herald, confirming that we are not so different to Panama. The reality is that no country in the world is immune from international crime. But that doesn’t mean to say we should make it easy for fraudsters.

While Scottish Limited Partnerships (SLPs) have been a respected and legitimate business model for over a century, this vehicle

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