The Criminal Finances Act 2017 is one of the most important pieces of anti-fraud and anti-corruption legislation to be passed in the UK. It amends the Proceeds of Crime Act 2002 and introduces two new corporate offences of failing to prevent the facilitation of tax evasion. Entities will be criminally liable if they fail to prevent tax evasion by either a member of their staff or an external agent, even if the business was not involved or was unaware of the act. Amongst other provisions, the Act also introduces ‘Unexplained Wealth Orders’, increased asset recovery powers and extended powers to investigate money laundering.
This important course will guide you through the new corporate offences and how they will operate. It will take you through the measures and procedures that should be put in place to comply with the Act and demonstrate that your organisation is doing everything possible to prevent financial crime. You will also be guided through managing the risks and the application of due diligence. Crucially, the course will also guide you on how your organisation may establish a defence if it is alleged to have committed an offence under the new Act.
It is vital that anyone with a responsibility for an entity's tax affairs, be it a company or an individual, fully understands this new legislation and the consequences of non-compliance.
This course is suitable for tax managers, financial controllers, compliance officers, company secretaries, directors and third-party tax advisers.
