How Not to Become a Criminal, or, Preventing the Facilitation of Tax Evasion

14 July 2017
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Key takeaways

  • The United Kingdom’s new criminal offences of failing to prevent the facilitation of UK or foreign tax evasion merit immediate attention from sponsors.
  • The offences, expected to be brought into force after the summer, have global reach and the potential to catch the unwary and impose unlimited financial penalties.
  • This update considers the impact of the criminal offences on those working in the funds industry and provides guidance on what to do next.