Criminal Finances Act 2017

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CRIMINAL FINANCES ACT 2017 | BDO UK

As part of a wider strategy aimed at preventing tax evasion, HMRC has allocated significant time and resource to clamping down on the facilitators and enablers of non-compliance. HMRC have told us that they are undertaking investigations, including office visits and dawn raids where they are making a point of asking all staff what they know of CCO and if personnel know what to look out for to identify tax fraud. It is therefore important to ensure you have taken the right steps to respond to the CCO legislation. It is our experience however that organisations can take a pragmatic approach in how they assess their potential exposure to the new offences and demonstrate reasonable prevention procedures. In most cases, our clients are able to build on their existing governance and control framework and introduce ‘quick wins’ to demonstrate stronger defences to this legislation.

JAMES EGERT TAX RISK PARTNER

CCO: DEMONSTRATING A DEFENCE

CUSTOMISED PRAGMATIC APPROACH 3 CCO: JOURNEY SO FAR 4 CCO ECOSYSTEM 5 THE RISK ASSESSMENT 6 OTHER DEFENCES 7 BDO APPROACH: PRACTICAL STEPS 8

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