Company offences

Company offences guidance:

What is asset stripping? Asset stripping involves taking company funds or assets while leaving behind the debts. Sometimes directors then transfer only the assets of a...

Practice Note

Company investigations under section 432 of the Companies Act 1985 Companies are regulated by the Department of Business, Energy and Industrial Strategy (BEIS) to protect...

Practice Note

This Practice Note is concerned with one of the three criminal offences created under section 52 of the Criminal Justice Act 1993, that is encouraging another person to...

Practice Note

This Practice Note is concerned with one of the three criminal offences created under section 52 of the Criminal Justice Act 1993 (CJA 1993), that is encouraging another...

Practice Note

Statutory responsibilities of directors Directors have statutory responsibilities for ensuring compliance with the following requirements: • keeping and maintaining...

Practice Note

The implementation of the Legal Aid, Sentencing and Punishment of Offenders Act 2012 (LASPO 2012), which came into force on 1 October 2012, brought radical changes to the...

Practice Note

Tax liability Companies resident in the United Kingdom are chargeable to corporation tax calculated on the basis of the company's annual profits. The company is liable...

Practice Note

STOP PRESS: The Sentencing Council has published offence specific guidelines for courts sentencing offences previously covered by a Definitive Guideline....

Practice Note

False accounting A person who falsifies or conceals information required for an accounting purpose, knowing that the information is misleading, may commit an offence of...

Practice Note

Fraudulent trading Fraudulent trading is an offence prohibited by section 993 of the Companies Act 2006 (CA 2006). This offence is charged for offences committed on or...

Practice Note

Insider dealing—the criminal offence Insider dealing is the use of sensitive or privileged information that has not yet been released to the public in order to take...

Practice Note

The law relating to insider dealing is contained in Part V of the Criminal Justice Act 1993 (CJA 1993). The offences contained in CJA 1993 are criminal offences and exist...

Practice Note

On 1 January 2017, the Department for Business, Energy and Industrial Strategy’s (BEIS) Criminal Enforcement Team transferred to the Insolvency Service. The Insolvency...

Practice Note

Preliminary steps Before any action is taken it is important to consider: • the event which has created the suspicion of fraud in the company • the financial impact this...

Practice Note

Duty to keep accounting records Every company has a duty to keep adequate accounting records. The purpose of this duty is to ensure businesses record transactions to...

Practice Note

Offence of material omissions from statement relating to company's affairs It is an offence for any present or past officer of a company which is being wound up either by...

Practice Note

Privilege is a vital consideration when deciding whether to make a suspicious activity report (SAR) to the National Crime Agency (NCA) under the relevant provisions of...

Practice Note

This Practice Note considers the concepts of joint privilege (being joint retainer or joint interest privilege) and common interest privilege, including where they are...

Practice Note

Commencing proceedings against a company Before a company is prosecuted a decision will be taken as to who is the appropriate prosecuting body. Once this and jurisdiction...

Practice Note

Providing false statement to an auditor The Director of a company must produce a report each financial year, unless the company is subject to the small company exception...

Practice Note

BREXIT IMPACT: Several aspects of the PSC regime will be affected by Brexit, including: • the availability of the Societas Europaea (SE) in the UK. For further details...

Practice Note

The offence of acquisition of limited company's own shares The general rule is that a limited company must not acquire its own shares, whether by purchase, subscription...

Practice Note