Criminal Finances Bill

Criminal Finances Bill

The Law Society has met (separately) HMRC and Home Office officials to discuss implementation of the Bill’s provisions for new tax-related offences. HMRC officials are keen to help the Society inform the profession about the new corporate offence of failure to prevent the criminal facilitation of tax evasion.

The offence is one of strict liability, and this liability extends to all branches of a relevant body, which could be a law firm, including overseas offices and subsidiaries which are viewed as a single entity. The defence is to put in place ‘reasonable prevention procedures’ following a risk assessment.