What you need to do now to prevent facilitation of tax evasion
From today, 30th September 2017, the new Criminal Finances Act is in full legal force. The race is now on for all companies to ensure they have duly considered what reasonable procedures they have in place to prevent corporate facilitation of tax evasion.
If you haven’t done anything yet, don’t worry. It’s not too late, but it’s vital to start working now to ensure your business has a legal defence should the worst happen. Just like the age old saying that your first payment of every month should be to the insurance company, the first task on Monday’s agenda should be to figure out what your company needs to do to prevent tax evasion.
If you haven’t started preparing yet…
- Don’t panic, but get started on a thorough plan of action.
- Form an implementation team that includes senior management involvement.
- Adopt VinciWorks’ free tax evasion policy template and communicate this to all staff.
- Ensure all contractors and third parties are aware of your new tax evasion policy.
Email templates are one of the most popular features in the VinciWorks learning management system. Templates enable you to customise the text and look of every email from the system down to the last detail. Many organisations recreate the exact look-and-feel of internal emails down to the graphics in a signature. Templates can include dynamic fields that are personalised to every user, such as first name, department, date of last cyber security training or any other field in the system.
All templates can “spoof” sender information, so that the emails appear to come from a colleague or manager. Carbon copied addresses can also be added.
On Tuesday 26th September at 12:00pm, Marshalls’ modern slavery expert Richard Beale joined VinciWorks to discuss the practical aspects of modern slavery compliance and answer attendee questions. Director of Best Practice Gary Yantin began the webinar with a review of VinciWorks’ modern slavery training suite before introducing Richard.
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Our fully customisable data protection course is now available in German
VinciWorks’ GDPR data protection course is now available in German. The course combines the latest in policy and law with best practice guidelines. It provides real-world scenarios, interactive features and review questions to test understanding of key points. By completing this course users will learn how to comply with data protection laws for their specific role in the organisation. The online training is based on the General Data Protection Regulations (GDPR).
German Data Protection Amendment Act
While GDPR will be coming into force across Europe on 25 May 2018, Germany has already enacted a new data protection law to prepare for the new regime. The German Data Protection Amendment Act (GDPAA) enters into force on 25 May 2018 and contains some key national differences with GDPR.
VinciWorks’ online GDPR course, Data Protection: Privacy at Work is now available in French. The course combines the latest in policy and law with best practice guidelines. It provides real-world scenarios, interactive features and review questions to test understanding of key points. By completing this course users will learn how to comply with data protection laws for their specific role in the organisation. The online training is based on the General Data Protection Regulations (GDPR).
While GDPR will be coming into force across Europe on 25 May 2018, France has already enacted some legislation to prepare for the new data protection regime.
The 1978 Data Protection Act was amended on 7 October 2016 by Law No. 2016-1321 for a Digital Republic (Digital Republic Law). The amendments were designed to prepare for additional protections on the processing and international transfer of such data as regulated by GDPR.
France’s data protection laws
The Digital Republic Law also introduced the right for minors to be forgotten and to request deletion of any personal data collected when they were under 18. People can also create digital wills to deal with their data posthumously and all electronic communication providers must give users to the option to transfer their data to a designated third party after they die.
The past 18 months has seen high profile scandals and huge fines in anti-bribery cases. This includes luxury car manufacturer Rolls-Royce’s £671m settlement in January 2017 after being found guilty of paying bribes including millions of pounds in cash and luxury cars to secure orders.
Companies should have strict policies in place to ensure all employees understand the steps they need to take to ensure their company cannot be found liable of bribery or corruption. The policy should apply strictly to all employees, partners, agents, consultants, contractors and any other people or bodies associated with the organisation. VinciWorks has therefore created an anti-bribery and corruption policy that can easily be edited to suite your organisation’s staff and industry.
Action against modern slavery is ramping up. In just the month of May 2017, the Modern Slavery Helpline dealt with nearly 200 potential victims in the UK. In the first five months of this year, 1,179 potential victims of modern slavery were identified.
Yet this number is a drop in the ocean compared to the tens of thousands of men, women and children being held as slaves right now in the UK. The Modern Slavery Act 2015 not only brought in tougher laws and sanctions against slavery, but encourages businesses to ensure they are not participating in labour abuse in their supply chains.
The Modern Slavery Act – Section 54
Section 54 of the Modern Slavery Act mandates companies with an annual turnover greater than £36m publish an annual slavery and human trafficking statement. Companies with a financial year-end date of 31st December were required to produce and publish their statement by 30th June. Many still haven’t.
General Counsel and Heads of Risk attended VinciWorks’ first risk summit
On 12th September more than 30 senior counsel and heads of risk gathered to discuss the risk horizon at VinciWorks’ first risk summit in the Soho Hotel.
Delegates from international law firms, accountancy firms and corporates shared their insights into the issues that they hope will grab their board’s attention as they plan their risk management strategies. The event was chaired by VinciWorks CEO Howard Finger.
If you are already preparing for GDPR, and with VinciWorks GDPR Guide to Compliance and our Data Protection: Privacy at Work course, you already should be, then most of what is in the Data Protection Bill will not be news to you. However this will explain the key points of the new Data Protection Bill that are different from GDPR.
Running to over 200 pages, with 194 clauses, 18 schedules and 112 pages of explanatory notes, the government describes the Bill as a “complete data protection system.” That system already exists however, and it’s called the General Data Protection Regulation.
The Bill is essentially Brexit-proofing GDPR by bringing in the European standard of data protection, along with allowed UK exemptions, no matter if, when or how the UK leaves the EU. Also the Bill is necessary to implement a single data protection regime as GDPR, as a European Directive, only applies to areas of law under EU competency. The Bill itself says things like: “Terms used in Chapter 2 and in the GDPR have the same meaning in Chapter 2 as they have in the GDPR.” So there’s no reason to throw out all the GDPR compliance work you might have done so far. Indeed, now is the time to speed it up.