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What have the 2004 Finance Act and the Proceeds of Crime Act got to do with IR35 legislation?

April 26, 2017ACT crime Finance GOT IR35 legislation proceeds

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What have the 2004 Finance Act and the Proceeds of Crime Act got to do with IR35 legislation?

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10 Posted

The Finance Act brought into law the fact that advisors have to report any anomalies or risk fines or prosecution. Because of the Proceeds of Crime Act 2002 accountants and others must report any suspicions about clients and money laundering. If they do not they face criminal prosecution and possibly jail. Basically, tax evasion is a criminal act and is encompassed in the money laundering rules. What is more an accountant has to report you if they think you should be under IR35 (or should have been in the past) even if you disagree.