44(1)An offence that involves fraud is for the purposes of this Part of this Schedule an offence involving serious fraud if its commission has led, or is intended or likely to lead, either—U.K.
(a)to substantial financial gain to any person, or
(b)to serious prejudice to the proper assessment or collection of tax.
(2)An offence that, if considered alone, would not be regarded as involving serious fraud may nevertheless be so regarded if there is reasonable ground for suspecting that it forms part of a course of conduct that is, or but for its detection would be, likely to result in serious prejudice to the proper assessment or collection of tax.
(3)Sub-paragraphs (1) and (2) are without prejudice to the general concept of serious fraud.