On 13 October 2016, the Criminal Finances Bill (HC Bill 75) was submitted to the UK House of Commons. The Bill includes measures to significantly improve the government’s ability to tackle money laundering and corruption, recover the proceeds of crime, and counter terrorist financing.
Criminal Offense for Failing to Prevent Tax Evasion
One of the main measures of the bill affecting corporate taxpayers is making it a criminal offense where a relevant body fails to prevent an associated per…