ARTICLE · 01 JUNE 2017

Prevention Better Than A Cure?

Baker & Partners LLP

Contributor

Baker & Partners LLP

Baker & Partners LLP

The Cayman Islands office was opened in late 2020 with Robert Jones as the sole attorney. The...

View firm profile

Explore more from Baker & Partners LLP

On 27 April 2017 the latest UK government measure designed to combat offshore tax evasion received Royal Assent. It will shortly be a criminal offence for an institution to fail to prevent...

JerseyTax

Author LinkedIn connections

On 27 April 2017 the latest UK government measure designed to combat offshore tax evasion received Royal Assent. It will shortly be a criminal offence for an institution to fail to prevent the facilitation of tax evasion. This affects institutions globally, not just in the UK.

The Criminal Finances Act contains two new criminal offences which can only be committed by corporates and other bodies, not by individuals. Once the Act is in force it will be a criminal offence for an institution to fail to prevent its employees or other persons associated with it facilitating the evasion not only of UK tax, but also of foreign tax. On one view this goes against a long established legal principle that the UK will not enforce, directly or indirectly the tax regime of another country.

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

Related Articles

Family Investment Companies - The Benefits And Jersey Considerations

A Guide To JPUTs (Jersey Property Unit Trusts)

Jersey And The Global Minimum Tax – Key Compliance Dates

Recent Developments In The Attitude Of The Jersey Courts To Onshore Tax

Jersey And The Global Minimum Tax – The OECD Pillar Two Rules

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

Comparative Guide

Tax

Comparative Guide

Tax Disputes

See more popular content from

TaxBaker & Partners LLP

Private Client Guide 2024 - Jersey (Legal 500)

This guide to Jersey's private client sector includes commentary on tax, trusts, foundations and private wealth structures used within the jurisdiction...

Non Resident Landlords And Jersey Income Tax

The NRL Scheme applies to any lease or tenancy (residential or commercial) where the landlord is not resident in Jersey.

Treatment Of Companies Managed Outside Jersey

Jersey companies may be treated as exclusively tax resident in jurisdictions other than Jersey pursuant to Article 123(1)(a) of the Income Tax Law 1961.

A Guide To JPUTs (Jersey Property Unit Trusts)

Jersey property unit trusts (JPUTs) remain a popular choice of vehicle for investment and fund structures that hold UK real estate and we continue to see a steady flow of instructions to establish new JPUTs.

Jersey And The Global Minimum Tax – The OECD Pillar Two Rules

Jersey has adopted legislation to implement the OECD Pillar Two rules in 2025.

Tax Residency Of Jersey Companies

The principal Jersey tax statute is the Income Tax Law 1961 (the Income Tax Law) which determines the rate of Jersey income tax payable by Jersey companies.

Family Investment Companies - The Benefits And Jersey Considerations

Rising UK tax rates and stricter trust regulations have sparked growing interest in family investment companies as a flexible alternative for wealth management. Jersey-incorporated FICs offer families a tax-efficient corporate structure...

Jersey And The Global Minimum Tax – Key Compliance Dates

The implementation of the OECD's global minimum tax rules (Pillar Two) brings new registration and filing obligations.

The Common Reporting Standard: Draft Jersey Legislation Released

The draft Taxation (Implementation) (International Tax Compliance) (Common Reporting Standard) (Jersey) Regulations 201- (the "Regulations") were lodged au Greffe on 13 October 2015.

Private Client Guide 2023 - Jersey (Legal 500)

This guide to Jersey's private client sector includes commentary on tax, trusts, foundations and private wealth structures used within the jurisdiction...

Expert Insights: Latest Offshore Insolvency Trends

The article explores key trends in the offshore markets, how insolvency practitioners are leveraging technology to enhance recoveries, challenges for creditors in offshore...

GlobalInsolvency/Bankruptcy/Re-Structuring

Baker & Partners LLP

Who Owns A Bribe?

Secret commissions and bribes have unfortunately become an increasingly common feature of doing business in certain parts of the world.

JerseyCriminal Law

Baker & Partners LLP

Employer's Liability For Personal Injury: Abreu v RS Reinforcements & CNR Construction

A recent case before the Royal Court clarified important aspects of the law relating to Employer's liability for personal injury as well as the approach to apportionment of damages...

JerseyEmployment and HR

Baker & Partners LLP

JSC BTA Bank v Khrapunov: UK Supreme Court Decision Could Have A Ripple Effect In Jersey

In JSC BTA Bank v Khrapunov the UK Supreme Court ("UKSC") has provided a stir of excitement for civil fraud practitioners which will, no doubt, sustain many conference speeches over the coming months.

JerseyCriminal Law

Baker & Partners LLP

The Realities Of Crypto Asset Recovery Part 2

Following the world's largest hack of a cryptocurrency exchange, ByBit, on 21 February 2025, in which approximately USD 1.4 billion dollars was misappropriated...

Cayman IslandsTechnology

Baker & Partners LLP

Trustees And Sanctions: Where Angels Fear To Tread?

It is very difficult to see how (given the combined scope of the application of EU and UK sanctions to EU and UK citizens) there will be anyone left in places like Jersey able to administer structures...

European UnionInternational Law

Baker & Partners LLP

2025 Overview Of BVI Regulation And Shareholder Disputes

In this article, Shaun Reardon-John provides a bird's-eye view on how BVI regulation of the financial service sector has improved within the BVI over the past 20 years. He also shares how this has impacted BVI shareholder disputes

British Virgin IslandsCorporate/Commercial Law

Baker & Partners LLP

Shareholder Disputes In The Jersey Courts

Jersey's position as a leading jurisdiction for cross-border corporate structures means shareholder disputes are increasingly litigated in its courts. With the island set to see significant growth in special purpose vehicle usage, understanding the remedies available under Jersey law—from unfair prejudice actions to derivative claims—and how recent developments like the abolition of the shareholder rule are reshaping the litigation landscape has never been more critical for investors and corpora

JerseyCorporate/Commercial Law

Baker & Partners LLP

Mergers & Acquisitions: What A Bargain!

Corporate skeletons can make for costly surprises. This article outlines a framework and recommendations for each stage of an acquisition to safeguard the integrity of the transaction and the future stability...

JerseyCorporate/Commercial Law

Baker & Partners LLP

BVI Cryptoasset Fraud Guide | Global Legal Post

Written by Associate Nia Statham and Partner Shaun Reardon-John, this guide shares the legal asset recovery tools available for victims of cryptoasset fraud in the British Virgin Islands.

British Virgin IslandsTechnology

Baker & Partners LLP