Mark Middleditch (Allen & Overy) provides this month’s review of tax developments affecting the City.
Failure to prevent facilitation of tax evasion: the new criminal offence
On 13 October HMRC published revised draft clauses draft guidance and a response to consultation on the new corporate offence of failure to prevent the facilitation of tax evasion. The new offence will form part of the Criminal Finances Bill.
The measures were first announced in the March 2015 Budget and have been through several rounds of consultation since then. The new offence first requires tax evasion by a taxpayer that is deliberately and dishonestly facilitated by an ‘associated person’ (which includes employees contractors agents and subsidiaries) on behalf of a ‘relevant body’. For these purposes a relevant body is a body corporate or a partnership regardless of any nexus with the UK. In these circumstances the relevant...
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Mark Middleditch (Allen & Overy) provides this month’s review of tax developments affecting the City.
Failure to prevent facilitation of tax evasion: the new criminal offence
On 13 October HMRC published revised draft clauses draft guidance and a response to consultation on the new corporate offence of failure to prevent the facilitation of tax evasion. The new offence will form part of the Criminal Finances Bill.
The measures were first announced in the March 2015 Budget and have been through several rounds of consultation since then. The new offence first requires tax evasion by a taxpayer that is deliberately and dishonestly facilitated by an ‘associated person’ (which includes employees contractors agents and subsidiaries) on behalf of a ‘relevant body’. For these purposes a relevant body is a body corporate or a partnership regardless of any nexus with the UK. In these circumstances the relevant...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
