The following Corporate Crime practice note Produced in partnership with Rhys Meggy of QEB Hollis Whiteman provides comprehensive and up to date legal information covering:
This Practice Note discusses the two ‘failure to prevent’ corporate criminal offences created by the Criminal Finances Act 2017 (CFA 2017):
CFA 2017, s 45 creates the offence of failing to prevent the facilitation of a UK tax evasion offence(s) (UK tax evasion facilitation offence)
CFA 2017, s 46 creates the offence of failing to prevent the facilitation of a foreign tax evasion offence(s) (foreign tax evasion facilitation offence)
Both are strict liability offences, subject to a ‘reasonable procedures’ defence available to those who can prove that they have maintained reasonable procedures intended to prevent the facilitation of the underlying tax evasion offences. Further to providing some background, this Practice Note sets out the elements of the two offences as well as the defences created by CFA 2017.
Both offences came into force on 30 September 2017. Organisations falling within the scope of the offences should be able to show that they were developing and/or enhancing their reasonable prevention procedures in advance of the implementation of these offences.
UK prosecutors are likely to receive greater assistance from foreign investigators and prosecutors in respect of these offences, than had been the case in Bribery Act 2010 (BA 2010) investigations. Foreign governments may will feel incentivised to co-operate with the Serious Fraud Office (SFO) or National Crime Agency (NCA) to prove foreign taxpayer evasion and its facilitation.
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and thousands of others like it, sign-in to LexisPSL or register for a free trial.
Existing user? Sign-in
Take a free trial
What is rescission of a contract?The remedy of rescission is available to a party whose consent, in entering into a contract, has been invalidated in some way:•the effect of rescinding a contract is to extinguish it and restore the parties to their pre-contractual positions•the main grounds of
What is quia timet relief?Injunctions are generally awarded where a party has already suffered a wrong. For guidance on injunctions generally, see Practice Note: Injunctions—guiding principles. However, an injunction may be sought before a party's rights have been infringed on the basis that they
There may be times when, rather than assigning the benefit of an agreement to a third party, the original parties wish instead to end their obligations to each other under that agreement and, in effect, recreate it, with the third party stepping into the shoes of one of the original parties. This is
Disposal and devolutionThe equity of redemption arises as soon as the mortgage is made. It is an interest in the land which the mortgagor can:•transfer, lease or mortgage inter vivos, or•by will (it passes on intestacy)No cloggingIt is a fundamental principle of a mortgage that there must be no clog
0330 161 1234
To view our latest legal guidance content,sign-in to Lexis®PSL or register for a free trial.