In the same way as firms may be held responsible for failing to prevent the payment or receipt of a bribe by an employee or agent, the Criminal Finances Act 2017 introduced an absolute offence of failure by a corporate entity to prevent the facilitation of tax fraud.
In addition to the criminal sanction for non-compliance, there is an increasing public expectation that businesses will take an ethical position on tax fraud and aggressive tax avoidance.
We can provide training and support to firms to assist them in developing appropriate policies, controls and procedures to identify and mitigate the risk of facilitating tax fraud and increase employees awareness of tax fraud, evasion and potentially high-risk tax reduction strategies.
It has been fantastic working with Laurence Howland and Buckles Law. Laurence is very experienced in the anti-money laundering rules and regulations and is passionate about helping professional services firms effectively implement those rules into their practices. Laurence will go the extra mile for us and our clients and this is very much appreciated.
Sharon Cooke FCA CTA
2020 Innovation Training Limited
The Criminal Finance Act 2017 (CFA17) received Royal Assent in April 2017 and began to come into force on the 30 September the same year, with a rolling programme of measures designed to strengthen the ability of law enforcement agencies to tackle fraud, tax evasion and the movement of criminal cash and assets. The story…