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Overview

In 2020 HMRC demonstrated through the number of probes into individuals and firms its commitment to tackling tax evasion. These actions were reinforced by the chancellor Rishi Sunak in last year’s budget declaration that the government had raised £4.4bn through cracking down ‘avoidance and evasion’.

Against this backdrop, it is imperative that all PIMFA member firms, regardless of size, not rely on existing control frameworks, but develop CCO specific steps to prevent the facilitation of tax evasion from occurring. Failure to do so could lead to severe reputational damage, unlimited financial penalties against the firm and a public record of conviction against senior managers.

In this two-hour interactive refresher training ideal for compliance, legal, finance professionals, leading tax experts Hansuke guide you through the expectations of HMRC to ensure that you can evidence you and your firm have taken reasonable steps to prevent facilitation from occurring.

This online training course covers the following:

Context

  • Anti-bribery legislation and economic crime
  • Tax crimes as a predicate offence to laundering (FATF)
  • Other related measures including the tax enablers legislation and Proceeds of Crime Act 2002

Scope of CCO

  • New strict liability offences: s45 UK taxes and s46 overseas taxes
  • Relevant body, Associated Persons,
  • Relevant prevention procedures and HMRC’s six guiding principles
  • HMRC guidance and trade associations
  • Penalties and deferred prosecution agreements
  • Enforcement action and political drivers

Practical application of CCO to the Wealth and Asset Management sector

  • What should directors and senior management do to be compliant (and avoid disqualification)?
  • Adoption of HMRC methodology to conduct risk assessments
  • Development of risk-based CCO controls frameworks to mitigate the criminal liability risk
  • Common mistakes and blind spots
  • Establishing an assurance programme to monitor the effectiveness of key controls

By the end of the session you will have:

  • An appreciation of CCO and its application to the Wealth and Asset Management sector
  • The practical tools on how to mobilise the development of RPP programme

Booking and Registration Information

If you are a PIMFA member please ensure you have logged in to register for this webinar, podcast or event and receive your discount. If you are unsure of your login details you can request a new password via our website or email us to reset it for you. If you are unsure whether you belong to a PIMFA member firm please register for an account or email us and we will confirm this for you. You can still register for our webinars, events and podcasts as a non-member (charges apply in some instances). Requests may take up to 48 hours to process.

Tickets

15 available
PLLT: Tax Evasion: What advisors and wealth managers need to know 2021 (FAM)£200.00 ex. VAT

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15 available
PLLT: Tax Evasion: What advisors and wealth managers need to know 2021 (NM)£250.00 ex. VAT

Please fill in all required fields

Details

Date:
1st July
Time:
09:30 - 11:30
Cost:
£200 - £250
Event Categories:
, ,

Organiser

PIMFA
Phone:
0207 448 7100
Email:
events@pimfa.co.uk

Other

CPD Hours
2

Venue

Zoom Webinar