Criminal Finances Act 2017
UK | Active
Came in to force 30 September 2017, the act places a duty on companies to prevent tax evasion via two new offences:
- Failure of a relevant corporate body to prevent the facilitation of UK tax evasion by an associated person; and
- Failure of a relevant corporate body to prevent the facilitation of non-UK tax evasion by an associated person.
Organisations should have “reasonable prevention procedures” to prevent tax evasion.
HMRC Guidance:
The 6 Guiding Principles
- Proportionality of risk-based prevention procedures
- Top level commitment
- Risk assessment
- Due diligence
- Communication (including training)
- Monitoring and review
| Category | Industries | Standards | Link |
|---|---|---|---|
| General | All, Accounting, Agriculture, Automotive, Banks, Chemicals, Construction, Energy Companies, Financial Services, Food and Drink, Healthcare, Logistics, Manufacturing, Payment Services, Security, Technology, Public Sector, Water Companies, Waste | ISO 9001 | View Legislation |
Additional Data
| Employee Threshold | Turnover Threshold |
|---|---|
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