Institute of Directors supports shell companies plan

The Institute of Directors has supported the Government's efforts to "shine a light" on shell companies.

Roger Barker, director of corporate governance and professional standards at the institute, said:

From a governance perspective, it is right that the true owners of companies should be transparent both to the company itself and the wider business community.

Using the corporate veil to obscure underlying ownership brings the corporate sector into disrepute and creates significant opportunities for wrongdoing or criminal activity.

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Shell company owners 'revealed'

A register of the true owners of shadowy shell companies will be made public as part of the fight against tax dodgers, David Cameron is set to announce today.