In the second episode of our series focussing on Good Tax Governance, Hannah Manning from our tax team discusses the new corporate criminal offence of failure to prevent fraud (FTP).
Over the last few years, businesses have become well acquainted with the strict liability offences around bribery and failure to prevent the facilitation of tax evasion. HMRC's introduction of this new criminal offence in tackling financial crime has some interesting new features that make it easier for the actions of individuals within a company to be attributed to the company itself.
Hannah discusses the new FTP offence, its relevance in a tax context, and how it interacts with the existing Corporate Criminal Offence of failure to prevent the facilitation of tax evasion (CCO). Most importantly, Hannah will explore the steps that should be taken when dealing with both CCO and FTP.
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