The latest post from the always excellent website of Bartfields Forensic Accountants on 3rd September opens by saying that allegations of tainted gifts can cause serious problems for a defendant in confiscation proceedings – but what exactly is a ‘tainted gift’?  Under the Proceeds of Crime Act 2002, in confiscation proceedings the word gift has a wider meaning than in everyday life.   A defendant is treated as making a gift if he transfers an asset to another person and receives either nothing for it or receives in return something whose value is significantly less than the value of that asset.  It points out the rules on “tainted gifts” are slightly different depending upon whether the defendant has a “criminal lifestyle” or not.

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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