Criminal Finances Act 2017

Long titleAn Act to amend the Proceeds of Crime Act 2002; make provision in connection with terrorist property; create corporate offences for cases where a person associated with a body corporate or partnership facilitates the commission by another person of a tax evasion offence; and for connected purposes.

Citation2017 c. 22

Introduced byAmber Rudd, Home Secretary (Commons)
Susan Williams, Baroness Williams of Trafford (Lords)

Territorial extent

• England and Wales
• Scotland
• Northern Ireland

^[b]

Criminal Finances Act 2017^[a]

Act of Parliament
Parliament of the United Kingdom
Long title	An Act to amend the Proceeds of Crime Act 2002; make provision in connection with terrorist property; create corporate offences for cases where a person associated with a body corporate or partnership facilitates the commission by another person of a tax evasion offence; and for connected purposes.
Citation	2017 c. 22
Introduced by	Amber Rudd, Home Secretary (Commons) Susan Williams, Baroness Williams of Trafford (Lords)
Territorial extent	England and Wales Scotland Northern Ireland [b]
Dates
Royal assent	27 April 2017
Commencement	various[c]
Other legislation
Amends	Prescription and Limitation (Scotland) Act 1973 Limitation Act 1980 Civil Jurisdiction and Judgments Act 1982 Criminal Justice Act 1987 Limitation (Northern Ireland) Order 1989 Data Protection Act 1998 Terrorism Act 2000 Anti-terrorism, Crime and Security Act 2001 Proceeds of Crime Act 2002 Serious Organised Crime and Police Act 2005 Crime and Courts Act 2013
Amended by	Law Enforcement and Security (Amendment) (EU Exit) Regulations 2019
Status: Amended
History of passage through Parliament
Text of statute as originally enacted
Revised text of statute as amended
Text of the Criminal Finances Act 2017 as in force today (including any amendments) within the United Kingdom, from legislation.gov.uk.

The Criminal Finances Act 2017 (c. 22) is an act of the Parliament of the United Kingdom that amends the Proceeds of Crime Act 2002 to expand the provisions for confiscating funds to deal with terrorist property and proceeds of tax evasion.

The act received Royal Assent on 27 April 2017.^[1] According to its long title, the purpose of the Act is to:

amend the Proceeds of Crime Act 2002; make provision in connection with terrorist property; create corporate offences for cases where a person associated with a body corporate or partnership facilitates the commission by another person of a tax evasion offence; and for connected purposes.

Part 3 of the Act creates the corporate offences of failure of a company or partnership to prevent facilitation of UK tax evasion and failure to prevent facilitation of foreign tax evasion offences. Technically these are two distinct offences, depending on whether the tax which is evaded is UK taxation or foreign taxation. Companies and partnerships are required to take 'reasonable' action to prevent the facilitation of tax evasion and Her Majesty's Revenue and Customs (HMRC), who are responsible for implementation of the legislation, argues that "the procedures that are considered reasonable will change as time passes".^[2]

Hong Kong-based law firm, King & Wood Mallesons, has described the Act as "a highly effective piece of legislation".^[3]