Introduction Summary
1.Section 224 introduces Schedule 48 which provides for amendments to be made to Proceeds of Crime Act 2002 (POCA). HM Revenue & Customs (HMRC) has criminal asset recovery powers under POCA but for former Inland Revenue (IR) functions the powers can only be exercised by the police on HMRC's behalf. This presents a potential loss of revenue to the Exchequer when HMRC are unable to exercise the powers, for example, during a search when the police are not present. This section and Schedule extend certain powers under POCA so they can be exercised by officers of HMRC in respect of a limited number of former IR functions.