Tax Evasion: Failure to Prevent

Does your organisation have "reasonable procedures" in place for preventing the facilitation of tax evasion? The Criminal Finances Act creates a corporate criminal offence for failing to prevent the facilitation of tax evasion. This places the responsibility on businesses to have "reasonable procedures" in place to ensure none of their employees or contractors are involved in helping someone evade their taxes anywhere in the world. Guidance from HMRC advises reasonable procedures should be guided by the following six principles: Risk assessment, Proportionality of risk-based prevention procedures, Top level commitment, Due diligence, Communication and training, Monitoring and review.

 This course will give users an understanding of what "reasonable procedures" are and how to ensure your organisation can ensure compliance with the Criminal Finances Act. Users will also learn the difference between the terms "tax evasion"; "tax avoidance" and "tax mitigation" through interactive quizzes; relevant scenarios and case studies. The course also addresses the challenge of offshore tax jurisdictions and gives guidance on how to spot red flags. Organisations can create personalised guidance for their staff; with information about the what to do and who to contact when there is a concern of tax evasion from a client. In this course you will learn: The relationship between tax evasion; tax avoidance and tax mitigation. The social and economic effects of failing to prevent tax evasion. What is meant by "reasonable procedures". The penalties for committing an offence under the Criminal Finances Act. Red flags for spotting facilitation of tax evasion. Practical advice and personalised guidance to prevent facilitation of tax evasion. This is the 45-minute version of this training which includes a module on legislation that is specifically designed for those who are exposed to tax risk and require further detail and insight into the Criminal Finances Act and the failure to prevent offences. 

Please note that VinciWorks courses are sold on a corporate rather than individual basis