Unexplained wealth orders

Jonathan Grimes

Jonathan Blunden

Speed read

The Criminal Finances Act 2017 introduces unexplained wealth orders (UWOs). UWOs are intended to address corruption in the UK. The orders will provide prescribed enforcement authorities, including HMRC, with the power to require an individual to explain the origin of his assets that appear to be disproportionate to his income, where that person is, amongst other things, suspected of involvement in serious crime. A UWO can ultimately lead to a civil recovery investigation or the making of a civil recovery order under the Proceeds of Crime Act 2002. Advisers should familiarise themselves with UWOs, as they will become an important feature of the civil recovery landscape.

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