Search news archive

 

 

t: 023 80 254 900

f: 023 80 254 906 

e: info@dtlimited.co.uk--------------91 Lakewood Road, Chandlers Ford, Eastleigh, SO53 5AD

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

Topping up your self-employed NIC contributions
13/03/2019 - More...
In many circumstances it can be beneficial to make voluntary Class 2 National Insurance Contributions (NICs) to increase your entitlement to benefits, including the State or New

Lost your Unique Tax Reference number?
13/03/2019 - More...
Your Unique Taxpayer Reference (UTR) identifies your tax records at HMRC. The number is also known as your taxpayer number or tax reference number and should be used whenever you

Treatment of deposits for VAT purposes
13/03/2019 - More...
As a general rule, most deposits made by customers serve as advance payments and create a VAT tax point when the deposit is received. It is important that businesses ensure that

What are the badges of trade?
13/03/2019 - More...
The 'badges of trade' tests, whilst not conclusive, are used by HMRC to help determine whether an activity is a proper economic / business activity or merely a money-making side

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 - David Tilsley Limited
Cookie Policy |  Privacy Notice
Home     About us   Contact us