A new tax offence will make it easier to prosecute companies and partnerships for the acts of their members of staff. There is a link to HMRC’s drive to prosecute more ‘wealthy people’ and ‘corporates’. Financial and professional services are the highest risk sectors but all business sectors should pay attention. The law will also allow the UK to prosecute businesses for offences related to foreign tax evasion – probably a first for any country. In all cases, it is a defence to have reasonable prevention procedures. The new law will be effective by September 2017 at the latest.
