The Criminal Finances Act 2017 introduced a new corporate criminal offence on 30th September 2017 for failure to prevent associated persons from facilitating tax evasion. This offence is committed by companies or partnerships rather than individuals. Associated persons can be members of staff, agents or persons who undertake services on behalf of the company.
Tax evasion is already a criminal offence, as can be the facilitation of another’s tax evasion. However, previously the government had no means of recourse against a company which turned a blind eye, or even actively encouraged, strategies which facilitated tax evasion. Now companies may be responsible for the actions of their associated persons. [Read more…]