UK Government Issues Guidance on Corporate Offence of Failure to Prevent Facilitation of Tax Evasion

20 September 2017
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Key takeaways

  • HM Revenue & Customs has issued final guidance on the new corporate offence of failure to prevent the criminal facilitation of tax evasion, which will come into force on 30 September 2017.
  • This guidance will be the primary resource for companies developing compliance policies and procedures to avoid falling foul of the new offence.
  • The guidance outlines six key principles for companies’ prevention procedures: risk assessment, proportionate risk-based procedures, top-level commitment, due diligence, communication and training, and monitoring and review.
  • These mirror the six principles in the government guidance on the UK Bribery Act 2010, but emphasise the promotion of risk assessment.