The proposed corporate offence for failing to prevent tax evasion is now set out in the Criminal Finance Bill, and HMRC has issued revised draft guidance. Jason Collins and Tori Magill (Pinsent Masons) outline the ways a relevant body can manage their exposure to risk.
Mark Middleditch (Allen & Overy) provides this month’s review of tax developments affecting the City.
Tim Law (Engaged Consulting) examines the first step of the European Commission’s second attempt at compiling a list of ‘non-cooperative’ jurisdictions.
The worldwide disclosure facility is now open and higher penalties and sanctions will apply from 30 September 2018 for non-compliance. Helen Adams and James Kennedy (BDO) examine its terms.
The express aim of the proposed changes is to simplify the current position. However, the draft legislation suggests that the opposite might well be the result. Alasdair Friend (Baker & McKenzie) reviews the consultation document.