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Make sure it’s not you
KEY POINTS
- New criminal offence intended to stop businesses ignoring activities of their staff and other representatives.
- The facilitator of tax evasion must have criminal intent.
- Businesses can have a defence if they put in place reasonable prevention procedures.
- A risk assessment should be undertaken to identify gaps in the business’s control environment.
- Businesses guilty of the offence face unlimited financial penalties.
More than three-quarters (76%) of senior decision makers in British businesses are unaware of a new law which could make their failure to prevent tax evasion a criminal offence according to a YouGov survey carried out in April commissioned by Pinsent Masons.
Under the new law a business could be guilty of a criminal offence if an employee or associated person facilitates another person’s tax evasion. The...
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