‘From 30 September 2017, if someone in your firm facilitates tax evasion and you don’t have reasonable prevention procedures, you could be faced with unlimited fines, not to mention reputational damage.’
The Future of Law, 15th September 2017
Source: blogs.lexisnexis.co.uk
‘Companies will no longer be able to pay employees their salaries in gold bullion in the first use of a new law designed to combat “morally repugnant” tax avoidance schemes.’
The Guardian, 7th August 2017
Source: www.theguardian.com
‘Legislation that provides for new corporate criminal offences of failure to prevent tax evasion will have effect from 30 September this year, it has been confirmed.’
OUT-LAW.com, 13th July 2017
Source: www.out-law.com
‘HMRC has stepped up its criminal investigations into corporates, without waiting for the new corporate offence of failing to prevent the facilitation of tax evasion to become effective Large companies should refresh their raids and critical incident procedures in case HMRC officers appear without warning.’
OUT-LAW.com, 5th June 2017
Source: www.out-law.com
‘New corporate criminal offences of failing to prevent the facilitation of tax evasion are on course to be introduced in September as planned following the passage of the underlying legislation through parliament.’
OUT-LAW.com, 28th April 2017
Source: www.out-law.com
‘The Criminal Finances Act 2017 will give law enforcement agencies and partners, further capabilities and powers to recover the proceeds of crime, tackle money laundering, tax evasion and corruption, and combat the financing of terrorism.’
Home Office, 27th April 2017
Source: www.gov.uk/home-office
‘There are some economic terms that are fixed and immutable. Marginal cost will always be the addition to cost from an incremental increase in output, and average cost will never be anything other than total cost divided by output. Other terms have greater fluidity and evolve over time with developments in theory and practice. For this reason, compilation of the Dictionary is never finished and definitions are never final.’
OUP Blog, 1st March 2017
Source: www.blog.oup.com
‘Commercial property landlords could be forced to actively inspect their properties and police tenants suspected of tobacco and other excise duty evasion under plans proposed by HM Revenue and Customs (HMRC), an expert has warned.’
OUT-LAW.com, 22nd February 2017
Source: www.out-law.com
‘Radical change to the Proceeds of Crime Act is coming. Below I summarise four of the areas of key changes to POCA 2002.’
Full story (PDF)
Dystone Chambers, 26th January 2017
Source: www.drystone.com
‘A consultation on the need for changes to corporate crime laws should be welcomed, although there is already “broad consensus” that the current rules do not work, an expert has said.’
OUT-LAW.com, 19th January 2017
Source: www.out-law.com
‘A special taskforce set up following the ‘Panama Papers’ leaks has opened civil and criminal investigations into suspected tax fraud or financial wrongdoing by more than 30 individuals and companies, the government has announced.’
OUT-LAW.com, 10th November 2016
Source: www.out-law.com
‘Company bosses could be prosecuted for failing to stop their staff committing fraud under new laws being considered by ministers.’
BBC News, 12th September 2016
Source: www.bbc.co.uk
‘Government proposals to clamp down on tax avoidance by targeting advisers with sanctions if HMRC successfully challenges a scheme further blur the line between evasion and avoidance, and “threaten the rule of law”, according to a prominent tax lawyer.’
Legal Futures, 18th August 2016
Source: www.legalfutures.co.uk
‘The annual cost of fraud in the UK has been estimated at £193bn – equal to nearly £3,000 per head of population – according to a new report.’
BBC News, 25th May 2016
Source: www.bbc.co.uk
‘The Queen has announced the government’s legislation for the year ahead, at the state opening of Parliament. Here is a bill-by-bill guide to what is in the 2016 Queen’s Speech.’
BBC News, 18th May 2016
Source: www.bbc.co.uk
‘A holocaust survivor, who overcame the horror of his entire family’s murder by the Nazis to make millions in Britain, has been posthumously cleared of tax evasion by a judge.’
Daily Telegraph, 16th May 2016
Source: www.telegraph.co.uk
‘The planned introduction of a new corporate criminal offence of failure to prevent fraud, money laundering and other economic crimes would have an “even bigger impact on businesses than the introduction of the Bribery Act”, a corporate crime expert has said.’
OUT-LAW.com, 13th May 2016
Source: www.out-law.com
‘New proposals to crack down on “economic crimes” such as fraud and money laundering are to be considered later this year.’
Ministry of Justice, 12th May 2016
Source: www.gov.uk/government/organisations/ministry-of-justice
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