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Guide to the Criminal Finances Act 2017

09 January 2018 / Alex Byrne
Issue: 4630 / Categories: Comment & Analysis

Clamping down on criminality


  • The Criminal Finances Act 2017 now applies to firms of accountants and tax advisers.
  • An offence may have been committed if the practice failed to prevent it.
  • It is not necessary that any tax was evaded successfully.
  • Procedures should be put in place that take account of the size of the firm and nature of the work undertaken.
  • Risk assessments should include various elements including motive and means.
  • The Criminal Finances Act can apply to high street firms as well as those offering complicated tax arrangements.

Although it is already a crime to evade tax or to deliberately help another person to do so the government believes that accountancy practices should be criminally liable for failing to prevent their employees and agents criminally facilitating...

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