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Companies to be liable for employees who facilitate tax cheating

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Newsletter issue - May 2016

The Government has recently announced that it is to bring forward plans to introduce a criminal offence for corporations who fail to stop their staff facilitating tax evasion.

At the time of the March 2015 Budget, the Chancellor confirmed that the government would be delivering on its pledge to introduce the measure in this Parliament. Prime Minister David Cameron has now confirmed that the offence will be introduced in legislation brought forward this year.

The government has already confirmed plans to create a cross-agency taskforce to investigate all evidence of illegality that has emerged from the so-called 'Panama Papers'.

Further information on this announcement can be found here.