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HMRC internal manual

Holding and Movements - Financial Securities Assurance

HM Revenue & Customs
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General information: What are the purposes of financial security for premises guarantees?

New applicants for authorised warehouse keeper status are required to provide afinancial security for warehoused goods (i.e. a premises guarantee). The effects of thisrequirement are to:

  1. undergo scrutiny by a financial institution as a further stage to ensure that only a fit and proper person is allowed a financial guarantee; and

  2. provide a significant financial commitment (especially for applications relating to General Storage & Distribution warehouse); and

  3. protect the revenue.