prohibit from national media ownership persons not resident in the United
Kingdom for tax purposes; and for connected purposes.
Be it enacted by the Queen’s most Excellent Majesty, by and with the advice and
consent of the Lords Spiritual and Temporal, and Commons, in this present
Parliament assembled, and by the authority of the same, as follows:—
Media owners’ tax status
Every parent company of, and each beneficial owner of, a national media outlet
be resident for tax purposes in the United Kingdom; and
pay taxes on their worldwide income to the Commissioners for Her
Majesty’s Revenue and Customs without a claim having been made
under section 809B(1)(c) of the Income Tax Act 2007 (c. 3).
“beneficial owner” has the meaning given in Regulation 6 of the Money
Laundering Regulations 2007 (S.I. 2007/2157) except that for the
purposes of this Act “10%” shall be substituted for “25%”;
“national media outlet” means a newspaper which is distributed, or a
radio or television station which broadcasts, over the whole or most of
“parent company” has the meaning given in the Companies Act 2006
If it appears to the Secretary of State that a parent company or beneficial owner
is in breach of section 1 the Secretary of State may apply to the court for an
Where the court grants an order under subsection (1) the parent company or
beneficial owner must divest itself of ownership of the national media outlet
within 2 months of the order being made.