By Sam Bacall, Partner

The Corporate Criminal Offences clause, part of the Criminal Finances Act 2017, introduced the concept of strict liability for businesses that fail to prevent their employees or associates from facilitating tax evasion.

Essentially, the law means that businesses cannot plead ignorance in the event of non-compliance.

This was a landmark shift in accountability, as it shifted the burden to companies to proactively prevent wrongdoing within their organisation, rather than relying on a defence of lack of knowledge or intent.

The key aspect of this law is its focus on prevention.

Rather than waiting for an issue to arise, businesses are now expected to take proactive steps to ensure that their operations are fully compliant with tax laws and regulations.

This is an important shift, not just for businesses, but also for accountants, who play a crucial role in ensuring compliance and advising clients on the right course of action.

Our commitment to integrity and professionalism

We have always adhered to the highest ethical standards, ensuring that all our practices meet the letter and spirit of the law.

The introduction of the Corporate Criminal Offences clause only reinforces our commitment to integrity, professionalism, and transparency in every aspect of our work.

As trusted accountants, with clients in Stockport and Manchester. we take our responsibilities seriously.

This means conducting thorough checks and implementing stringent processes to prevent any form of corporate tax evasion, even if that means going beyond the legal minimum.

We are committed to supporting our clients with accurate, ethical financial advice, ensuring they are not only compliant with current regulations but also protected from the risks associated with tax evasion.

Our clients rely on us to provide clear, comprehensive guidance on their tax obligations, and we have implemented robust internal measures to guarantee compliance with all relevant laws, including the Criminal Finances Act.

This includes continuous training for our staff, regular reviews of our policies, and a strong culture of openness and accountability.

The importance of proactive compliance

The key takeaway from the Corporate Criminal Offences clause, as well as recent events where it was used for the first time, is the emphasis on proactive compliance.

The law makes it clear that businesses must act to prevent tax evasion within their operations, rather than waiting for issues to be flagged by authorities.

For accountants, this means taking an active role in ensuring that their clients are aware of their responsibilities and that all procedures are in place to prevent tax evasion.

At FFT, we work closely with our clients to help them understand their legal obligations, and we assist them in developing strategies that not only comply with the law but also protect their business reputation.

We pride ourselves on our ability to offer practical, forward-thinking advice that helps our clients mitigate risks, maintain regulatory compliance, and avoid costly penalties.

Working with accountants you can trust

You want to partner with accountants who you can trust to act with integrity and professionalism.

At FFT, we understand the complexity of tax laws and the importance of maintaining a trustworthy reputation.

We are committed to being a reliable partner for businesses in Stockport, Manchester and across the UK.

We ensure that our clients operate within the law and maintain the highest standards of business conduct.

If you’re looking for an accountant in Stockport, please get in touch with our team.