Author: Azizur Rahman 3 April 2023
With HM Revenue and Customs (HMRC) having never charged any British firm with failure to prevent tax evasion, City AM asked Aziz Rahman for the possible reasons.
Aziz explained that while the offence was introduced six years ago, it can take some time for such cases to “work their way through the system”. He added that there is a possibility that HMRC may have chosen to settle some of the failure to prevent tax evasion investigations using its civil enforcement powers.
Aziz also suggested that a lack of resources could have hampered HMRC.
HMRC has confirmed that while it has not secured any convictions, it does have nine failure to prevent tax evasion investigations ongoing. It is reviewing a further 26 cases for potential investigation and has already rejected 77 other possible investigation opportunities.
The full article can be read here.
Aziz Rahman is Senior Partner at Rahman Ravelli and its founder. His ability to coordinate national, international and multi-agency defences has led to success in some of the most significant corporate crime cases of this century and top rankings in international legal guides. He is recognised worldwide as one of the most capable legal experts regarding top-level, high-value commercial and financial disputes.