The Criminal Finances Act 2017 took effect from 30 September 2017. There are two Corporate Criminal Offences (CCO) that apply to organisations that fail to prevent associated persons from facilitating tax evasion. A successful prosecution could lead to:
- An unlimited fine
- Public record of the conviction
- Significant reputational damage and adverse publicity.
We also know that HMRC is already undertaking live investigations.
Communication and Training is one of the key Six Guiding Principles in establishing a defence from prosecution as set out in HMRC’s CCO guidance. This is to ensure CCO policies and procedures are successfully communicated inside and outside the business.
Our CCO eLearning course is designed to provide training to your staff on the legislation and support your defence in preventing the facilitation of tax evasion.