0191 257 0355

71 Howard Street, North Shields
Tyne & Wear, NE30 1AF


Tax evasion and the Criminal Finances Act

Source: HM Treasury | | 24/10/2018

The Criminal Finances Act provides law enforcement agencies with greater powers to recover the proceeds of crime, tackle money laundering, tax evasion and corruption, and terrorist financing. The Act, which came into force on 30 September 2017, introduced two new criminal offences for corporations: one applying to the evasion of UK taxes and one applying to the evasion of foreign taxes.

These offences relate to the evasion of UK and foreign taxes and hold corporations and partnerships criminally liable when they fail to prevent their employees, agents, or others who provide services on their behalf from criminally facilitating tax evasion.

Where UK tax evasion has been found to take place, the offence can be tried by the courts of the United Kingdom regardless of whether the company who performs the criminal act of facilitation has a business presence in the UK or overseas.

HMRC is responsible for investigating offences in relation to UK tax whilst the Serious Fraud Office is responsible for investigating offences in relation to foreign taxes.

 

Latest News

  • Keep abreast of Brexit news

    19/03/2019 - More...

    As the Brexit date fast approaches, it seems the only thing we can say with any certainty is that uncertainty continues to plague the issue of our leaving the EU. The negotiations

  • Present tax-free company benefits

    19/03/2019 - More...

    The list of company benefits that can be provided tax-free to employees is quite short. However, some of the benefits that can be provided include the following: Meals: Free or

  • Changes to VAT IT systems if no-deal Brexit

    19/03/2019 - More...

    In a letter being sent to businesses across the country, HMRC has published the following information on the effect a no-deal Brexit would have on changes to VAT IT systems. We

Newsletter

With our newsletter, you automatically receive our latest news per e-mail and get access to the archive including advanced search options!

» Sign up for the newsletter
» Login

Copyright © 2019 - Read Milburn