Unexplained Wealth Orders (UWO)

Overview

An unexplained wealth order (UWO) is the latest weapon available to the authorities that seek to take assets from those they suspect of wrongdoing. If you are a high net worth individual, company or trust facing a UWO it is vitally important that you respond carefully and intelligently. Only by doing this can you maximise your chances of keeping what is yours.

Rashid Imran Attorney has the all-important experience and expertise in this area of law. We are the logical firm to come to for any HNWI or organisation that needs to defend their assets because they are being targeted by a UWO.

Introduced into UK law in January 2018 by the Criminal Finances Act 2017, a UWO requires an individual or organisation to explain how they came to possess an asset. Failure to provide an explanation considered adequate by the authority that has obtained the UWO will see the asset classed as recoverable property, leading to efforts to have it taken via a civil recovery order issued under the Proceeds of Crime Act 2002.

The Serious Fraud Office, the National Crime Agency, HM Revenue and Customs, the Crown Prosecution Service and Financial Conduct Authority are the authorities that can apply to the High Court for a UWO for assets valued at more than £50,000.

Challenging UWOs

UWOs can be challenged. The subject of one has to act swiftly and take precisely the right steps in a way and at a time that maximises their chances of a successful challenge.

Rashid Imran Attorney is a market leader in challenging all types of orders brought against companies and individuals. We act with speed, intelligence and strategy to challenge all assumptions made by the authorities and attack every weakness in any case brought against our clients.

Our ability to think outside of the box and tackle the authorities’ claims at every stage has made us the first stop for many HNWIs facing official challenges to their right to own their assets.