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Criminal Finances Bill

06 Nov 2018
13:00 - 14:30
Law Society House, 96 Victoria Street, Belfast See Details

DATE(S): Various – see below

TIME: 1pm – 2.30pm

VENUE(S): Law Society House, Belfast

COST: £50

CPD HOURS: 1.5 General Group Study


This session will focus on tax-related regulation and governance that impact on legal firms including:

The Criminal Finances Act

The Act introduces a new criminal offence of "Failing to Prevent the Facilitation of Tax Evasion". Broadly, the offence will apply where an offence of tax evasion is committed and an associated person of a partnership or company has criminally facilitated that offence. Associated person is drawn very widely to include employees, sub-contractors and agents. The offence applies to both UK and foreign taxes. The offence is strict liability and the only defence available is for the corporate or partnership to demonstrate that it has reasonable 'prevention procedures' in place. Draft guidance on the meaning of reasonable procedures has been published which indicates that organisations will be expected to carry out appropriate risk assessment and to put in place specific but proportionate procedures.

The "Enablers of Tax Avoidance" legislation

This legislation was included in the recently enacted Finance Act No2 2017 and impacts very broadly. Potentially any adviser or funder of a transaction involving certain forms of tax avoidance is within its ambit. If triggered, the sanctions include penalties and naming and shaming for the advisers and funders involved in the transaction.

The session will also cover changes in relation to the Disclosure of Tax Avoidance Schemes rules which could be increasingly relevant to some legal practices.

To increase accessibility this session will run on the following dates:

Wednesday 7 March 2018

Tuesday 6 November 2018

The session will be delivered by Martin Fleetwood and Jon Preshaw, PWC.

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