HMRC has published the final version of its guidance for the new corporate offences of failure to prevent criminal facilitation of tax evasion, one in relation to UK taxes and the other for foreign taxes, which come into effect on 30 September 2017.
The Criminal Finances Act 2017 created two new corporate criminal offences relating to the facilitation of UK and non-UK tax evasion. These offences are strict liability offences and the only defence available will be to have reasonable prevention procedures in place. With the 30 September implementation date fast approaching, you need to start thinking about what a defence of “reasonable prevention procedures” looks like in the context of your business. The new legislation applies widely and needs to be considered by all businesses.