Criminal Finances Act 2017

ISSUES AROUND TAX EVASION

OVERVIEW

The Act came into force in September and contains a raft of radical measures directed at al those involved in the financial sector and represents the greatest shake up of asset confiscation and AML legislation since POCA 2002.

The Act contains a new criminal offence specifically directed at companies and partnerships where tax evasion has been committed by those associated with the firm – this could include employees, agents and others who perform services on behalf of the firm. There is a real danger that firms could fall foul of this offence.


Contents


  • What is meant by ‘Criminal finances’?
  • Corporate Facilitation of Tax Evasion
    • facilitating tax evasion
    • customers and suppliers
    • the defence
    • satisfying HMRC and SRA
    • undertaking a risk audit
    • updating policy and procedures