From 30 September firms run the risk of committing a criminal offence if they fail to implement reasonable procedures to prevent employees and other associates from facilitating tax evasion. The approaching deadline is causing consternation around what needs to be done by the month end.

Although the Government accepts that some procedures (such as training programmes and new IT systems) will take time to roll out and that required standards will develop (increase) over time and this pragmatism provides some comfort to firms on immediate expectations, firms must move quickly to complete risk assessments and implementation plans.

We set out in our brochure on the new corporate offences of failing to prevent facilitation of tax evasion the ten most frequently asked questions by our clients.

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