All companies operating in the UK and abroad could be liable to criminal penalties if they or their associates are found to be facilitating tax evasion. Dominic Stuttaford, head of tax at Norton Rose Fulbright for the EMEA region, highlights the impact of the new Criminal Finance Act and what companies need to being doing now to ensure compliance.
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The new guidance is not meant to reflect a substantial change to UK law, but the requirement that tax advice is ‘likely to be correct’ imposes unrealistic expectations
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