HMRC powers ― Part I

Produced by a Tolley Value Added Tax expert

Value Added Tax

Guidance

This guidance note provides an overview of HMRC’s main powers. Where applicable, there are links to other guidance notes that provide more information. This note should be read in conjunction with the HMRC powers ― Part II guidance note.

Security and recovery of debts

Security

HMRC has the following powers to require that a taxable person provides security in the following circumstances:

a)
if HMRC considers that it is necessary for the protection of the revenue, they can require, as a condition of making any VAT credit, that the taxable person provides security that covers the amount of the payment if this appears to be appropriate under VATA 1994, Sch 11, para 4(1A); FA 2003, s 17(3)
b)
if HMRC considers that it is necessary for the protection of the revenue, they may require a taxable person, as a condition of supplying or being supplied with goods and services under a taxable supply, to provide security that covers the payment of any VAT that is or may become due from the taxable person.

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