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Law Society Outlines Guidance on New Tax Evasion Prevention Law

The Law Society of England and Wales has released new guidelines for solicitors on the corporate offence of failure to prevent the criminal facilitation of tax evasion introduced by the Criminal Finances Act 2017. This follows a new law to prevent the criminal facilitation of tax evasion that will officially begin from 30th September 2017.

The new law will ensure that both companies and partnerships are criminally responsible if they fail to prevent the criminal facilitation of tax evasion by a member of their staff, external agent or other ‘associated person’, even where the business was not involved in the act or did not know it was happening. The guidance covers:

  • the new offence
  • the definition of an associated person
  • risk assessments

Requirements of:

  • communication
  • training
  • monitoring
  • reporting

Steve Kirby, Tax Solicitor at Cartwright King, summarises the new legislation by saying:

"Guidance has been issued by the Law Society on the new offence of failure to prevent the criminal facilitation of tax evasion. As the implementation date looms, all professions and professionals should ensure they have the necessary systems in place to prevent and pro-tect themselves going forwards."

If you have been accused of being involved with tax evasion, please call our experienced Tax Defence department on either 0808 168 5550 or info@cartwrightking.co.uk.

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