Money Laundering

Money laundering is basically dealing with money or property obtained or derived from criminal conduct where the person concerned knows or suspects that it is criminal property. From a tax perspective, the important thing to note is that criminal property includes money and property gained through tax fraud.

So, if a person has money that they should have paid over to HMRC but have kept hold of it through tax fraud that is a money laundering offence. That will also be true of someone who has money or property arising from some other person’s or company’s tax fraud if they know or suspect that the money comes from tax fraud.

The offences are quite technical and they are currently in sections 327, 328 and 329 of the Proceeds of Crime Act 2002. However, the headline point is that someone who deals with the proceeds of their own or another’s tax fraud and who knows or suspects this to be the case can be prosecuted for money laundering.

If you are being investigated by HMRC in connection with income tax fraud or money laundering offences and penalties and would like help please contact Patrick Cannon for an initial discussion or advice.

Frequently Asked Questions

Other Practice Areas

Income Tax Fraud

Representation in income tax fraud investigations.

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Offshore Disclosure Facility

Offshore Disclosure Facility and Voluntary Disclosures

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Tax Avoidance Schemes

The mis-selling of aggressive tax avoidance schemes.

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GAAR & Enabler Penalties

GAAR Penalties and Enabler Penalties.

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Civil and Criminal Tax Investigations & Disputes

HMRC civil and criminal tax investigations and disputes.

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Stamp Duty Land Tax

Tax advice and representation in Stamp Duty Land Tax.

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Old Square Tax Chambers
15 Old Square
Lincoln's Inn
London
WC2A 3UE