Criminal Finances Act 2017 Policy

Introduction

BIIT Recruitment is committed to conducting business with integrity, transparency, and accountability. We have a zero-tolerance approach to tax evasion and any form of financial crime. This policy outlines our commitment to complying with the UK Criminal Finances Act 2017 and ensuring that our operations and business relationships are free from tax evasion and related offenses.

This policy applies to all employees, contractors, suppliers, and business partners associated with BIIT Recruitment.

Overview of the Criminal Finances Act 2017

The Criminal Finances Act 2017 introduces corporate liability for failing to prevent tax evasion. Under the Act, a company can be held criminally liable if an associated person (e.g., an employee, contractor, or agent) facilitates tax evasion, even if the company was unaware of the activity.

The Act establishes two offenses:

  1. UK Tax Evasion: Facilitating the evasion of UK taxes.

  2. Foreign Tax Evasion: Facilitating the evasion of taxes in a foreign country.

Our Commitment

We are committed to:

  1. Preventing Tax Evasion: We prohibit any form of tax evasion or facilitation of tax evasion in our operations or business dealings.

  2. Compliance with Laws: We adhere to all applicable laws and regulations, including the UK Criminal Finances Act 2017.

  3. Promoting Ethical Practices: We foster a culture of integrity and ethical behavior among our employees, contractors, and business partners.

Prohibited Activities

The following activities are strictly prohibited:

  1. Tax Evasion: Deliberately underreporting income, overstating expenses, or engaging in any activity to evade taxes.

  2. Facilitation of Tax Evasion: Assisting or encouraging others to evade taxes, whether directly or indirectly.

  3. Misuse of Funds: Using company funds or resources for unauthorized or unethical purposes, including tax evasion.

Responsibilities

  1. Employees and Contractors: All employees and contractors are responsible for understanding and complying with this policy. They must report any suspected or actual instances of tax evasion or facilitation of tax evasion.

  2. Management: Managers are responsible for ensuring that their teams are aware of this policy and for addressing any concerns or violations promptly.

  3. Third Parties: We expect our suppliers, contractors, and business partners to adhere to the same high standards of integrity and ethical behavior.

Risk Assessment

We conduct regular risk assessments to identify potential areas of vulnerability within our operations and business relationships. This includes:

  • Evaluating the risk of tax evasion or facilitation of tax evasion.

  • Assessing the integrity and compliance practices of third parties we engage with.

Prevention Procedures

To prevent tax evasion and ensure compliance with the Criminal Finances Act 2017, we have implemented the following procedures:

  1. Training and Awareness: We provide regular training to employees and contractors to ensure they understand their responsibilities under this policy and are equipped to identify and prevent tax evasion.

  2. Due Diligence: We conduct due diligence on third parties, including suppliers and contractors, to ensure they comply with our ethical standards.

  3. Whistleblowing Policy: We have a robust whistleblowing policy in place that encourages employees, contractors, and third parties to report any concerns related to tax evasion or unethical behavior without fear of retaliation.

  4. Monitoring and Review: We regularly monitor and review our compliance with this policy to ensure its effectiveness.

Reporting and Whistleblowing

We encourage employees, contractors, and third parties to report any concerns or suspicions of tax evasion or facilitation of tax evasion. Reports can be made through:

We guarantee that all reports will be treated confidentially, and no retaliation will be taken against individuals who report concerns in good faith.

Consequences of Non-Compliance

Any violations of this policy will be investigated promptly, and appropriate disciplinary action will be taken, up to and including termination of employment or contracts. In cases of criminal activity, we will cooperate fully with law enforcement authorities.

Continuous Improvement

We are committed to continuously improving our procedures to prevent tax evasion and ensure compliance with the Criminal Finances Act 2017. This includes staying informed about emerging risks, updating our policies and procedures, and collaborating with stakeholders to promote ethical business practices.

Approval and Review

This policy has been approved by the leadership team of BIIT Recruitment and will be reviewed annually to ensure it remains relevant and effective.

Contact Us

If you have any questions or concerns about this Criminal Finances Act 2017 Policy or our approach to preventing tax evasion, please contact us:

BIIT Recruitment
Email: compliance@biit.co.uk
Address: 16-18 Woodford Road, London, E7 0HA, United Kingdom

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