FIN.

HMRC publishes self-reporting guidance

HMRC has published guidance for firms  on self-reporting a breach of the CFA provisions on failure to prevent facilitation of tax evasion. HMRC stresses that:

  • reporting must be done only by an authorised representative of the firm
  • reporting is not a requirement, and is not a defence
  • however, it may be viewed as part of “reasonable procedures”
  • a report to HMRC under this mechanism is not a SAR, which should be made separately if appropriate
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Emma Radmore